JPMorgan upgrades Eni stock rating on oil leverage, raises target to €22

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Gold prices soar as Middle East conflict spurs safe haven demand Oil prices surge after U.S.-Israel strikes on Iran; crude around $80/bbl likely Futures drop, oil spikes amid widening Mideast conflict - what’s moving markets Dollar surges on Middle East conflict; euro, sterling retreat FLASH SALE (South Africa Philippines Nigeria) FLASH SALE JPMorgan upgrades Eni stock rating on oil leverage, raises target to €22 By Investing.com Analyst Ratings Published 03/02/2026, 05:52 AM JPMorgan upgrades Eni stock rating on oil leverage, raises target to €22 0 ENI 1.85% E 3.07% Brent Spot US Dollar 6.90% Investing.com - JPMorgan upgraded Eni SpA (BIT:ENI) ( NYSE:E ) to Overweight from Underweight and raised its price target to €22.00 from €17.50. The upgrade comes as the stock trades at $46.94, near its 52-week high of $46.95, following a remarkable 70% gain over the past year. The firm cited top quartile oil and gas leverage through a business offering multi-year top-line volumetric growth and enhanced strategic execution as reasons for the upgrade. JPMorgan said the relative valuation cheapens back to a sector discount under higher $70-plus price decks. The June 2027 price target of €22.0 is set as an equal-weighted blend of sum-of-the-parts and 2027 price-to-earnings ratio. According to InvestingPro analysis, Eni appears undervalued at current levels, with the platform identifying 14 additional ProTips for investors, including the company’s track record of raising dividends for five consecutive years. The firm applies a 15% discount to the net asset value offset by a 10% premium on Eni’s superior oil leverage. JPMorgan also targets a 15% sector discount to a European market 2027 forward median price-to-earnings ratio of 14.0x, which gives a target of 12.6x on 2027 earnings per share at $66 per barrel Brent. In other recent news, Eni S.p.A. has reported strong financial results for the fourth quarter of 2025. The comp...