ONGC Stock Target Skyrockets Amid Windfall Tax Unpredictability
Mumbai– CLSA has considerably elevated its target price for ONGC stock to 415, pointing out the supply’s undervaluation relative to present petroleum prices, projecting a 60 % benefit.
- Target Cost: Increased to 415 per share.
- Rationale: Stock price reflects $ 63/ barrel crude, while current prices are around $ 100
- Assumptions: Price target based on $ 89 crude in 2027 and $ 82 in 2028
- Threat: Battle resolution can revoke rate projections.
- Financier View: Uncertainty surrounding future windfall taxes and geopolitical events are influencing investor confidence. The broker agent’s overview rests on continual high crude prices in the coming years.