Eni warms up the engines and collects the positive opinion of Credit Suisse. The stock bucked the trend with respect to the stock market (-0,49% for the Ftse Mib) and to oil companies: it rose by 0,38% to 13,25 euros, in the wake of the positive assessment by Credit Suisse.
Analysts have restarted coverage of the stock with an outperform rating and a target price of 15,5 euros per share, in a report titled “Forza Eni vol. II". The conclusion is more positive than in the past for Eni, analysts write, who underline how the group, under the guidance of CEO Descalzi, is rapidly changing towards a leaner and less complex version of itself. Unlike its competitors, Eni has several options in its portfolio thanks to the success achieved in drilling and a balance sheet that is among the strongest in the sector. On March 18, Eni will provide an update on the strategic plan which will be presented in London. Credit Suisse analysts expect Eni to end 2016 with revenues of 50,47 billion euros and adjusted net income of 1,58 billion, equivalent to earnings per share of 0,44 euros.
