RBC Capital Sys Eni (E) “Due a Breather” After Period of Outperformance

Eni S.p.A (NYSE:E) ranks among the best-performing European stocks to invest in. On September 2, RBC Capital downgraded Eni S.p.A (NYSE:E) from Outperform to Sector Perform, with a EUR17 price target. The downgrade comes after the shares of the Italian energy giant experienced a period of solid performance, aided by a number of recent corporate transactions.

Although Eni’s balance sheet has remained robust as a result of these transactions, RBC Capital stated the stock is “due a breather after a strong run.” According to the firm, Eni’s energy transition plan continues to be praised by the market, appreciating it more than it did when it was first revealed.

Eni S.p.A (NYSE:E) is an Italian energy conglomerate based in Rome. Considered to be one of the seven supermajor oil companies in the world, the company has operations in 66 countries across the globe.

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Disclosure: None. This article is originally published at Insider Monkey.