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UBS has maintained a "Neutral" rating for Eni, setting a target price of 14 euros. Analyst Joshua Stone noted that the oil company's decision to sell project shares in Ivory Coast and Congo is a positive development, leading to a slight reduction in its leverage ratio.
European stock indexes are expected to be mixed, with the FTSE Mib projected to decline by 0.2%. In Milan, notable movements included Leonardo rising 1.6% to a 52-week high, while Telecom Italia fell 0.8% amid legal challenges. Meanwhile, Japan reported a narrowed trade deficit, and UK consumer confidence dropped in January.
Investors are questioning the high valuations in the tech sector, particularly as the U.S. earnings season unfolds. Matteo Ramenghi from UBS Wealth Management highlights the significant role of artificial intelligence in driving growth, with expectations for capital expenditures from major tech firms to reach $224 billion in 2024. He recommends focusing on semiconductors, utilities, and certain commodities, while remaining optimistic about U.S. equities amid falling interest rates and expected earnings growth.
UBS Global Research has upgraded Shell and Repsol to "buy" ratings, citing Shell's strong free cash flow outlook and efficient cost management, alongside Repsol's anticipated cash flow surprises and robust shareholder returns. Conversely, Eni has been downgraded to "neutral" due to limited positive surprises and weaker margins in its chemical and biofuel segments, with shares trading at a premium to historical averages.
An explosion at a storage facility owned by Italian energy group Eni near Florence has left two individuals in life-threatening condition and five others hospitalized. The incident occurred on Monday, prompting a response from local authorities and emergency services.
Eni S.p.A is a global energy company engaged in the entire value chain, from oil and natural gas exploration to electricity production from renewable sources. It serves local markets with gas, electricity, and energy efficiency services, while focusing on innovative business models and sustainability to address the energy trilemma.
Eni SpA has agreed to sell an additional stake in its renewables unit, Plenitude, to Energy Infrastructure Partners AG, increasing EIP's ownership to 10%. This transaction involves a capital increase of approximately €209 million ($224 million), raising EIP's total investment in Plenitude to around €800 million, which includes €588 million from a previous acquisition in March.
UBS has raised its target price for Eni, as reported by Cercle Finance and published by BOURSORAMA. The analysis is provided for informational purposes only, with BOURSORAMA acting solely as a distribution channel and maintaining a conflict of interest management policy to ensure objectivity.
UBS has reaffirmed its 'buy' recommendation for Eni, raising the target price from €15 to €15.5, indicating a 7% upside potential for the company's shares. The broker notes a positively skewed risk outlook, anticipating a decline in debt and potential asset sales by the Group.
Eni S.p.A is a global energy company engaged in the entire value chain, from oil and natural gas exploration to renewable energy generation and bio-refining. It markets gas, electricity, and products to local markets while offering energy efficiency and sustainable mobility services. Through technological innovation and strategic partnerships, Eni addresses the energy trilemma and continues to create value.
Eni S.p.A.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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