Morgan Stanley analyst Martijn Rats initiated coverage of Eni with an Equal Weight rating and $36.40 price target. The analyst added the American depository receipts of TotalEnergies, BP, Shell, Eni and Equinor to its coverage of the energy sector in Europe. All fundamental views for the ADRs are fully aligned with those the firm has for the underlying local stocks, the analyst tells investors in a research note.
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