Bernstein analyst Oswald Clint upgraded Eni SpA to Outperform from Market Perform. The analyst expects the European integrated energy names will make it three consecutive years of outperformance in 2023, backed by a "still unfolding commodity super-cycle" that will build throughout the year and an accelerating IOC-IEC transformation "that is yet to be reflected in valuations." He therefore goes ‘all-in’ on the European majors.
Published first on TheFly
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