Eni: Stifel downgrades stock
(CercleFinance.com) - Stifel has downgraded Eni shares from 'buy' to 'hold', with a target price reduced from E17.
3 to E14.7, judging the consensus EPS figures for the Italian oil and gas group's FY 2024 and 2025 to be excessive.
Before the publication of its results on 26 July, the broker estimates that Q2 EPS fell by 25% y-o-y, and that against a backdrop of weak cash generation, its net debt increased sequentially.
Notably anticipating a weaker contribution from the group's exploration & production (E&P) business, Stifel is reducing its EBIT and net income forecasts for 2024-26, by 13% and 24% on average, respectively.
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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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids 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.
3 to E14.7, judging the consensus EPS figures for the Italian oil and gas group's FY 2024 and 2025 to be excessive.
Before the publication of its results on 26 July, the broker estimates that Q2 EPS fell by 25% y-o-y, and that against a backdrop of weak cash generation, its net debt increased sequentially.
Notably anticipating a weaker contribution from the group's exploration & production (E&P) business, Stifel is reducing its EBIT and net income forecasts for 2024-26, by 13% and 24% on average, respectively.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids 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.