HSBC lowered the firm’s price target on Eni (E) to EUR 15.10 from EUR 15.50 and keeps a Buy rating on the shares. The sharp fall in oil prices since early April has raised pressure on oil majors’ financial frameworks, which were designed to work at $70 per barrel oil, the analyst tells investors in a research note. The firm cut estimates for the global integrated oils.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on E:
- Eni price target lowered to EUR 16 from EUR 18 at JPMorgan
- Eni S.P.A. Earnings Call Highlights Robust Performance
- Cautious Outlook on ENI S.p.A.: Hold Rating Amidst Earnings Growth Concerns and Market Volatility
- Eni price target lowered to EUR 13 from EUR 14 at Citi
- Cautious Outlook: ENI S.p.A.’s Hold Rating Amidst Conservative Oil Price Forecast and Leverage Concerns