Positive morning on the stock market for Snam. The company active in the gas sector advanced by 1,4% in the late morning, in line with the performance of the Ftse Mib list, dragged up by the rally of the banks.
Snam's prices are mainly driven by two factors. The first are the declarations of the CEO Marco Alvera, which announced Italgas' forthcoming return to Piazza Affari, with a landing date set for 7 November and presentation to investors on 24 October. The second is a report published yesterday evening by analysts Barclays.
In fact, the British bank has restarted the coverage of the Snam share, with a recommendation "overweight” and target price of 5,5 euros. The target price set by Barclays would represent an increase over the current value of Snam shares of more than 14%. According to the British institute, Snam should reduce the risk associated with the new regulation of businesses regulated in Italy and switch to a more cautious dividend policy.
