Deutsche Bank Upgrades ENI (E) to Buy

October 5, 2016 7:13 AM EDT
Get Alerts E Hot Sheet
Price: $33.26 +0.94%

Rating Summary:
    9 Buy, 11 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank upgraded ENI (NYSE: E) from Hold to Buy.

Analyst Lucas Herrmann said, "Despite clarity of strategy ENI's YTD price performance has very clearly lagged, the shares rising just 3% in $ terms against 16% for the Euro IOCs as a whole. In part relative performance has no doubt been weighed down by domestic Italian issues. Equally, however, we believe it has suffered in the face of project and divestment newsflow that has fallen short of the market's initial hopes. Ahead of Italy's 4th December referendum political uncertainty clearly remains. Yet, with the shares now yielding over 6% (CASH), EPS expectations lowered, key projects on stream or ramping and divestment timelines potentially narrowing, valuation and the risk/reward balance attract."

For an analyst ratings summary and ratings history on ENI click here. For more ratings news on ENI click here.

Shares of ENI closed at $28.94 yesterday.

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