Saras in rally after monstrous sell-off. What happens?

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After three nightmarish sessions, Saras rebounded decisively today, despite some bad news, but not too much according to some analysts.

Today’s session has imposed a decisive halt to the vertical collapse accused by Saras in the last three sessions.

Saras in rally after three nightmare sessions

The stock sold about five percentage points not later than yesterday, leaving over 23% on the parterre in the last three days.

Today Saras immediately took the path of gains and accelerated to the upside in the last hour and a half of trading.

At the end of the session, the stock stopped at € 1.1185, with a 5.07% rally and almost 9 million shares changed hands, against the average of the last 30 days of around 10.5 million.

Saras: the refining margin drops again

Saras reacted decisively and catalyzed purchases despite the weekly data relating to the average refining margin of the Mediterranean area.

As of August 5, 2022, the EMC reference margin stood at $ 1.5 per barrel, down from $ 3.2 in the previous octave.

The month of August opened with an average margin much lower than the 7.5 dollars in July and even more so compared to the 19.5 dollars in June.

Saras: Mediobanca talks about bad news and remains cautious

According to Mediobanca Securities analysts, the sharp drop reached in refining margins represents a significant negative element for Saras shares, also in light of the sharp rise recorded since the beginning of the year.

Meanwhile, the view of the experts does not change, who maintain a cautious view on the stock, with a “neutral” recommendation and a target price of 1.35 euros.

Saras: margins will remain at high levels for Bestinver

Bullish, on the other hand, is Bestinver’s strategy which today reiterated the “buy” rating on Saras, with a valuation range between 1.6 and 1.7 euros.

Experts believe that the decline in the refining margin recorded in the last week is due to the collapse of the gasoline spread following the decrease in consumption in the United States and the rise in energy prices.

However, Bestinver expects refining margins to remain at high levels as the war between Russia and Ukraine has disrupted customary supply patterns, creating new flows of crude and severe shortages of petroleum products.

The most significant impact should be recorded starting from February 2023, when the embargo on Russian petroleum products will begin.

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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