Eni: Credit Suisse has cut its view
(CercleFinance.com) - Credit Suisse downgraded its rating on the Eni share from "outperform" to "neutral", saying that it has decided to switch preferences in the European oil and gas sector.
The broker - which has upgraded Equinor from "underperform" to "outperform" - said both Eni and Equinor screen well on valuation grounds, but noted that Equinor "prices in less" than Eni.
Credit Suisse said it now sees less upside in Eni than Equinor.
In afternoon trading on the Italian Stock Exchange, Eni shares were trading up 0.5% higher, at 13.7 euros, albeit underperforming the main stock index, which is up 1.6%.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker - which has upgraded Equinor from "underperform" to "outperform" - said both Eni and Equinor screen well on valuation grounds, but noted that Equinor "prices in less" than Eni.
Credit Suisse said it now sees less upside in Eni than Equinor.
In afternoon trading on the Italian Stock Exchange, Eni shares were trading up 0.5% higher, at 13.7 euros, albeit underperforming the main stock index, which is up 1.6%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.