Alpha Finance projects a notable upside potential for Motor Oil’s stock, raising its target price to €32.38 from €25.56, representing a 36% upside with an estimated dividend yield of 6% for the current year. Alpha Finance maintained a “buy” recommendation for the stock.

The financial firm upgraded its estimates for the stock of the company – a Corinth-based group dealing in the petroleum industry that focuses on oil refining and trading.

The positive forecast was based on the company’s recently revised 2030 strategic plan, amounting to €4 billion. Motor Oil’s updated plan outlines a comprehensive approach to green transition based on four distinct strategic components, aiming to position the Group as a Diversified Energy Leader in the broader region.

The Group is expected to increase its Renewable Energy Sources (RES) portfolio from the current 837ΜW to 1GW within the next two years, to reach 2GW, thus optimizing the ratio of its energy portfolio with the subsequent contribution to operational profitability estimated to amount to over €250 billion by the end of 2030.