Eni Likely to Continue Outperformance on Production, RBC Says

MT Newswires Live11-10

Eni (E) is expected to sustain its outperformance on production as its upstream resource depth continues to pay dividends, RBC Capital Markets said in a Monday note.

The report said the company's exploration success and recent developments in Venezuela, Argentina and Indonesia look set to reshape its upstream portfolio.

"We see potential for the company to grow well in excess of its CMD targets over the medium term," the report said.

After a stagnant period, Eni is looking into the end of the decade and beyond with material growth, and well in excess of its peers, the report said. The note said headline volume growth is forecast at 8% into 2027 and close to 10% in 2028.

RBC maintained its sector perform rating while raising its price target to 32 euros ($35.8) from 28 euros.

Price: 55.92, Change: +0.46, Percent Change: +0.84

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