ENI: Oddo maintains buy rating and raises guidance
(CercleFinance.com) - Oddo has confirmed its rating on the ENI stock, in addition to its target price of 19 euros after group announced its results.
The broker's analysts said that the group's EBIT and earnings are significantly above expectations, boosted by all divisions, despite the price of crude oil remaining constant.
E&P has reported excellent performance, while production guidance has been reduced by 4% to 3% with the loss of low-margin barrels and growth in earnings-enhancing volumes, Oddo says.
EPS estimates have been increased by 4.3% p.a. on average over 2018-19.
Copyright (c) 2018 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 broker's analysts said that the group's EBIT and earnings are significantly above expectations, boosted by all divisions, despite the price of crude oil remaining constant.
E&P has reported excellent performance, while production guidance has been reduced by 4% to 3% with the loss of low-margin barrels and growth in earnings-enhancing volumes, Oddo says.
EPS estimates have been increased by 4.3% p.a. on average over 2018-19.
Copyright (c) 2018 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.