ENI: RBC upgrades stock
(CercleFinance.com) - RBC on Monday raised its recommendation on the share of Italian oil group Eni from "underperform" to "perform in line" with the rest of the sector, while raising its target price for the share from 9.
5 euros to 10 euros.
In a research note, the Canadian broker justifies its upgrade by the rise in oil prices and by a dividend policy that is considered as more generous than those of other energy groups over the period 2021-2022.
RBC also highlights more reasonable growth targets than some of its peers with respect to its low-carbon strategy.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.