Eni: RBC upgrades stock
(CercleFinance.com) - On Thursday RBC uprgraded its rating on Eni shares from weight in line to outperform, having increased its target price for them from 11 euros to 15 euros (current price: 12 euros, +1.
In a report, the Canadian broker points out that the Italian energy group recently announced its intention to list its so-called "low-carbon" business in order to generate value.
According to RBC, Eni may decide to float 30% of its subsidiary, which could raise nearly three billion euros.
The broker - which says however that the deal could face a number of uncertainties - believes that the move will act as a "test case" for the entire sector.
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