Eni: Jefferies still a buyer
(CercleFinance.com) - Jefferies maintains its "buy" rating on the Eni share, along with its target price of E18, saying that the stock "remains one of its favourite ways to play a strengthening oil macro in 2H".
"In the meantime, its sector leading dividend yield (7%) provides helpful protection from near-term oil price pressure," the broker added.
After a meeting with the head of the global gas and LNG portfolio (GGP), Jefferies confirms its view that Eni's EBIT guidance for GGP "looks conservative, though this is partially in consensus numbers".
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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.
"In the meantime, its sector leading dividend yield (7%) provides helpful protection from near-term oil price pressure," the broker added.
After a meeting with the head of the global gas and LNG portfolio (GGP), Jefferies confirms its view that Eni's EBIT guidance for GGP "looks conservative, though this is partially in consensus numbers".
Copyright (c) 2023 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.