Stock Enel, Unicredit, Saipem, Nio, Azimut and Generali

Latest news and stock price analysis of Enel, Unicredit, Saipem, Nio, Azimut and Generali shares.

Stock market overview: shares of Enel, Unicredit, Saipem, Nio, Azimut and Generali

Enel S.p.a.

Italy’s leading power company in the last week appreciated in the market by 0.70%, while in the last session, the stock touched 5.17 euros with a gain of 2.80 % in a single session in Piazza Affari. 

The plan to consolidate the company signed by CEO Starace is just one part of the 2023-2025 business plan and is proceeding unabated, the goal involves the sale of assets totaling 21 billion euros by 2025 and a corporate management turnover. 

2022 ended with the sale of the Brazilian Celg Distribuicao, which brought €1.5 billion to the coffers of the Roman giant but at the same time negatively affected net income by €850 million, of which, though, €693 million had already been written into the books so that the actual loss in profit is only (so to speak) €157 million. 

2023 continues with the sales trend and remains in South America where, according to some Insiders, the energy company is pushing to finish its business in Argentina as well, where by spring the choice of the most likely companies to buy Edesur should be concluded.

Not only Latin America on the divestment front, another 2 billion in fact will be brought home through the sale of the asset in Romania. 

Meanwhile, Mediobanca Securities remains confident about the Italian energy stock, confirming its outperform rating on the Italian company. 

UniCredit

Thanks to an excellent first half of the year, the financial stock made a 47.92% recovery that brought it even back to January 2022 levels.

According to the CEO of Algebris Davide Serra, commodities next year will go back up due to the reopening of the Rising Sun. 

Europe will be more attractive since New York has too high multiples compared to us, and banks will also experience a good moment while according to the CEO, the tech will suffer a setback.

“Just do the math: there are institutions like Banco Santander, which has never made a loss in 175 years, or Standard Chartered in Asia, Hong Kong and Singapore or Barclays which is the fourth largest investment bank in the United States, and then in Italy such as Unicredit or the most profitable bank in Europe which is Bnp Paribas: they all trade around 5 times the profits of 2023-24 If we consider that the European index trades at 12 times and the United States at 20, we understand where is the margin.”

For Serra, UniCredit is definitely a buy both on the equity side and on the bond side for which he foresees earnings from perpetuals to Tier 2, with a likely coupon that could be around 10%.

As of today, the stock touches 13.45 Euro with a +1.31% in line with forecasts. 

Saipem

The San Donato Milanese energy group touches 1.18 Euro recording a +5% positioning itself halfway to the target set by Sadif (which confirms the buy) between 1.12 and 1.26 Euro. 

The stock yesterday fell as low as 1.0740 Euro and then made a sharp recovery and now has 1.20 Euro in its sights.

The turnaround of the stock, which had been in free fall since its peak of 3.79 in July 2022, was welcomed by investors who based on fundamentals had long seen a recovery of the stock in Piazza Affari. 

Nio Inc – ADR

The stock of Tesla‘s Chinese rival experiences yet another “No” day, leading it to drop another 2.40%, touching $9.75.

The trend that began a year ago when the stock was worth $60 knows no setback and is met with heavy selling by investors. 

Leveraging on the stock is the cut in estimates on delivery cars caused by the supply chain’s difficulty in sourcing materials also but not only because of the resurgence of Covid in China and new Asian lock-downs. 

Deliveries were revised to between 38,500 and 39,500 units with a deviation of between 4500 and 9500 units from initial plans.

Azimut

The investment fund company Azimut touches 21.19 euros (+1.24%) continuing the positive trend of the past six months that has seen it lead a recovery of nearly 30% from the highs. 

However, according to most analysts, the stock could experience a lateralization as strong investments are not expected. 

The stock’s volumes were 384,040 unfortunately below the one-month moving average of volumes set at 635,421.

The stock’s low intraday volatility of 2.276 brings stability to the stock and makes it a low-risk investment, however, the stock under these conditions will not give sky-high profits and this is in line with those who like to invest in relative safety in times of bear market.

Generali 

In the financial sector, Generali, stands out with a performance that sends the stock up 0.96% to €16.78 continuing the work of returning value that began six months ago and has already brought home 8.79%. 

Generali shows that it has successfully implemented the new international accounting standards on plan targets until 2024 and benefits from the integration of Cattolica Assicurazioni, which Group General Manager Marco Sesana comments as follows:

“The integration is perfectly on track and we have a clear path to unleash Cattolica’s potential. Expected synergies by 2025 have been revised to 120-130 million euros from the previous forecast of 80 million euros. The profit estimate normalized net income of Cattolica’s core activities is around 145 million in 2024 and 171-178 million in 2025.”