JPMorgan analyst Christyan Malek downgraded Eni SpA to Neutral from Overweight with a price target of EUR 18, down from EUR 19. The analyst says the sharp gas correction has widened the 2023 consensus earnings gap for European oil and gas names. Malek is taking a more cautious stance on hub gas geared equities that have also either outperformed in recent months and/or carry Q4 risks.
Published first on TheFly
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