Eni SpA initiated with a Buy at Stifel

Stifel analyst Roberto Ranieri initiated coverage of Eni SpA with a Buy rating and EUR 19.10 price target. The company will continue to benefit from a rebound in the current oil and gas scenario in the second part of 2023, Ranieri tells investors in a research note. He believes Eni’s integration of oil and gas activities with the Plenitude green business should boost financials. The re-start of Plenitude’s listing process is not fully embedded in Eni’s market valuation, contends Ranieri.