Stifel reaffirms its 'buy' recommendation on Eni, with an adjusted price target of 17.1 to 17.3 euros, after the Italian oil and gas group updated its operating and financial forecasts for 2024.

This leads the broker to raise its own estimates for Eni over the 2024-27 period, with EBIT and net income for 2024 increasing by around 14% and 13% respectively, and at rates in the mid-single-digit range over 2025-27.

'The share remains attractive thanks to shareholder returns, with a dividend yield standing at 6.5%', adds Stifel in its note summary.

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