Stifel maintains its Buy rating on Eni shares, with a price target lowered from 18.1 to 17.1 euros.

The research firm reports that the CMD (investor day) for the period 2024-27 revealed a drop in investment in E&P (exploration & production) and an acceleration of activities in favor of energy transition (renewable energies, sustainable fuels/chemicals, carbon capture & storage).

Against this backdrop, Stifel is reducing its EPS by an average of 8% for the period 2024-2027, and indicates that the decline in upstream EBIT will be partially offset by a better contribution from Enilive and Versalis.

Stifel believes that Eni's biofuels and chemicals activities will support the Group's margins, and that "valuation remains favorable".

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.