(News Bulletin 247) – Stifel reaffirms its ‘buy’ recommendation on Eni with a price target reduced from 19.1 to 18 euros, mainly due to lower peer multiples, but the target ‘still offering significant upside potential on the market price’.
The broker recalls that Eni’s results exceeded expectations in the first quarter of 2023, and that the group’s management reassured on solid business prospects as well as on attractive shareholder remuneration.
Stifel slightly adjusted its estimates for the Italian oil and gas company in 2023, being more cautious on the upstream side, but improving its expectations on the gas portfolio and LNG trading.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.