Snam initiated with a Buy at Stifel

Stifel initiated coverage of Snam (SNMRF) with a Buy rating and EUR 5.90 price target Snam operates assets in the gas midstream segment and in energy transition, such as Transport/Sustainable mobility, notes the analyst, who sees the company delivering growth while enjoying “a solid balance sheet.” In addition, the firm’s comparative analysis makes it “boldly apparent” that remuneration for shareholders favors Snam over Terna (TEZNY), the analyst tells investors.