RBC Lifts Eni Price Target to EUR20 as Q4 Net Income Jumps 35%
RBC Capital lifted Eni’s price target to EUR20 from EUR17, citing drill-bit success, new joint ventures and divestment proceeds driving production growth. The company posted Q4 adjusted net income of €1.20 billion (+35% yoy) and CFFO of €3 billion (+4% yoy), and signed a Petronas gas JV targeting 300 Kboe/d output.
1. Q4 Results
Eni reported fiscal Q4 2025 adjusted net income of €1.20 billion, a 35% increase year-over-year, and cash flow from operations of €3 billion, up 4% year-over-year. These results reflect improved commodity realizations and operational efficiencies across its segments.
2. Analyst Price Target Revision
RBC Capital raised its price target on Eni to EUR20 from EUR17 while maintaining a Sector Perform rating, highlighting consistent success with the drill bit, new joint ventures and increased divestment proceeds as catalysts for production growth.
3. Petronas Gas Joint Venture
Eni signed a binding agreement with Petronas to create a jointly-controlled exploration and production satellite spanning Indonesia and Malaysia. The JV combines two material gas portfolios with an initial production of over 300 Kboe/d, expected to ramp to 500 Kboe/d.
4. Financial Position and Gearing
Active portfolio management and divestment proceeds have driven Eni’s gearing down to a historically low 14%, providing financial flexibility for further investments and potentially supporting shareholder returns.