Eni: Stifel confirms its recommendation on the share

(CercleFinance.com) - Stifel maintains its 'hold' rating on Eni shares, with a price target reduced from 14.
7 to 13.9 euros, after the Italian oil and gas company yesterday published results broadly in line with analysts' estimates.

Management also presented the company's business plan for the period 2025-2028, and asserted that shareholder remuneration is a priority for the company.

Eni plans to increase its dividend by 5% in 2025, to E1.05 per share. The payout target is now between 35% and 40% of CFFO, compared with 30% to 35% previously', reports Stifel.

In 2025, Eni is also planning a share buyback of 1.5 billion euros, with a potential increase of up to 3.5 billion euros.

Against this backdrop, Stifel believes that Eni is leveraging its skills in exploration and improving its downstream activities, but that 'the oil price scenario is, in our view, a brake on better performance in 2025'.

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