Eni on Track for Full Year Targets After First Quarter; Fair Value Estimate Unchanged
Our fair value estimate and moat rating for Eni is unchanged after first-quarter results were largely in line with our expectations and management reiterated its previous full-year guidance items. We continue to appreciate the improvements management has driven across the portfolio, particularly in the upstream and gas and power segments, as demonstrated during the quarter. However, we view this improvement along with the expectation of continued progress is largely already reflected in the shar...
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