Eni upgraded to Buy on ‘valuation gap’ at HSBC

HSBC analyst Kim Fustier upgraded Eni to Buy from Hold with a price target of EUR 15.20, up from EUR 14.80. The analyst believes the selloff following the company’s investor day was "unwarranted and opened up a valuation gap." Eni offers solid exploration and production growth prospects and attractive shareholder returns after revamping its distribution policy, the analyst tells investors in a research note.