UBS cuts Snam target to EUR 6.60 and upgrades Snam stock to Buy

Published on 10/06/2026 at 13:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose 6.30 percent to EUR 2.026 billion. Snam stock costs EUR 5.53 on October 6, 2026 after EUR 5.56, minus 0.54 percent.

Aquarellmalerei einer italienischen Vorortstadt mit Bürogebäuden — Snam S.p.A. (IT0003153415) hat Sitz in San Donato Milanese, dargestellt als sanftes Aquarell einer Stadtlandschaft, Illustration mit AI erstellt.

Snam stock (ISIN IT0003153415) was trading at EUR 5.53 at Lang & Schwarz on October 6, 2026, down 0.54 percent versus the prior close of EUR 5.56. According to Investing.com on September 10, 2026, UBS upgraded Snam from Neutral to Buy while cutting its target from EUR 6.70 to EUR 6.60.

UBS trims target to EUR 6.60

The UBS action combines a stronger rating with a lower valuation marker. The EUR 6.60 target stands 19.35 percent above the Lang & Schwarz price of EUR 5.53, calculated against the same euro reference.

Investing.com reported that UBS linked its view to a 5.60 percent annual growth rate for Snam's asset base from 2025 through 2030 and a 4.10 percent normalized earnings-per-share compound growth rate. The report also identified regulatory uncertainty after 2028 and higher yields as risks to the valuation.

First-half investment rises 43.80 percent

Economia Italia reported on September 11, 2026 that Snam generated EUR 2.026 billion of revenue in the first half of 2026, up 6.30 percent year over year. Adjusted EBITDA reached EUR 1.572 billion, an increase of 5.40 percent, while adjusted net profit fell 2.30 percent to EUR 733 million.

Investment was the sharper operating change: Snam spent EUR 1.613 billion in the first half of 2026, up 43.80 percent year over year. Net debt stood at EUR 18.803 billion at June 30, 2026, up 7.40 percent from the end of 2025.

November 11 report sets next marker

Snam's investor-relations calendar lists November 11, 2026 for the interim financial report as of September 30, 2026, together with a board resolution on the interim 2026 dividend, according to Snam. That date gives investors the next scheduled checkpoint for revenue, earnings, investment delivery and capital allocation.

Snam stock stays below the UBS target

Snam was trading at EUR 5.53 at Lang & Schwarz on October 6, 2026 at 1:41 p.m. CEST, down 0.54 percent against the Lang & Schwarz prior close of EUR 5.56 on October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Snam stock.