Snam sells De Nora shares while Snam stock trails EUR 6.60 target
Published on 10/01/2026 at 12:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Snam (ISIN IT0003153415) was trading at EUR 5.54 at Lang & Schwarz on October 1, 2026 at 12:40 p.m. CEST, down 0.72 percent versus the EUR 5.58 prior close. On September 22, 2026, MarketScreener reported that Snam completed the placement of about 10 million Industrie De Nora shares for gross proceeds of EUR 67.00 million. UBS had upgraded Snam from Neutral to Buy and cut its target from EUR 6.70 to EUR 6.60 on September 10, 2026.
De Nora sale adds financial flexibility
The placement left Snam's subsidiary Asset Company 10 with about 33 million multiple-voting De Nora shares, representing 16.60 percent of De Nora's share capital, according to MarketScreener. The remaining stake is subject to a 90-day transfer restriction from settlement, with customary exceptions.
The transaction fits Snam's broader asset rotation agenda. In its first-half 2026 earnings call, management said the biomethane disposal process was targeting signing by year-end, while the company continues to advance infrastructure investments.
First-half EBITDA rises 9.00 percent
Snam reported adjusted EBITDA of EUR 1.572 billion for the first half of 2026, up 9.00 percent year over year, according to the Yahoo Finance transcript. Adjusted net income reached EUR 733.00 million, while net debt stood at EUR 18.80 billion versus EUR 17.50 billion at the end of 2025.
Management confirmed adjusted EBITDA guidance of EUR 3.10 billion for fiscal 2026 and upgraded net debt guidance from EUR 19.00 billion to EUR 18.90 billion. The figures give the De Nora sale a clear balance-sheet context: capital recycling is taking place alongside continued investment and higher reported debt.
UBS target stands 19.13 percent higher
According to Investing.com on September 10, 2026, UBS viewed Snam's regulatory discount as excessive and cited a EUR 3.00 billion asset rotation program. The EUR 6.60 target lies 19.13 percent above the Lang & Schwarz price of EUR 5.54, using the two values in euros.
Snam's next reported event is scheduled for November 10, 2026, when the company is expected to publish third-quarter results, according to MarketScreener.
Stock trades at EUR 5.54
Snam stock was trading at EUR 5.54 at Lang & Schwarz on October 1, 2026 at 12:40 p.m. CEST, down 0.72 percent against the EUR 5.58 prior close. The company is listed on Borsa Italiana under ticker SRG.MI, and its market capitalization was EUR 21.5 billion on September 24, 2026.
The further course of trading is shown by the continuously updated real-time quote of Snam stock.
Snam stock facts
- Company: Snam S.p.A.
- ISIN: IT0003153415
- Ticker: SRG.MI
- Primary exchange: Borsa Italiana
- Price Lang & Schwarz (as of October 1, 2026, 12:40 p.m. CEST): EUR 5.54
- Change versus prior close: minus 0.72 percent
- Prior close Lang & Schwarz (September 30, 2026): EUR 5.58
- Market capitalization: EUR 21.5 billion (as of September 24, 2026)
- Sector / Industry: Utilities / Gas infrastructure
