Snam sells EUR 67 million De Nora stake: Snam stock sits 12.58 percent below UBS target

Published on 10/16/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Snam completed a EUR 67 million De Nora sale on September 22, 2026. Snam stock costs EUR 5.77 on October 16, 2026 against UBS target EUR 6.60.

Deal and valuation signals

Snam completed a EUR 67 million De Nora share sale on September 22, 2026.
UBS maintained a EUR 6.60 target and Buy rating on September 10, 2026.
Snam stock traded at EUR 5.77 at 10:38 a.m. CEST at Lang & Schwarz on October 16, 2026.

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 (ISIN IT0003153415) completed the sale of 10 million Industrie De Nora shares for EUR 67 million on September 22, 2026. MarketScreener reported the accelerated placement, which represented a 5 percent stake in Industrie De Nora.

What does the sale change?

The transaction converts part of Snam's De Nora holding into EUR 67 million of gross proceeds. The sale also gives investors a concrete measure for the company's asset-rotation program, which UBS described as worth EUR 3 billion in a September 21, 2026 report carried by MarketScreener.

Analyst target stays above the quote

UBS kept a Buy rating and a EUR 6.60 target for Snam on September 10, 2026, according to Snam's analyst-coverage page. Snam also lists Equita's EUR 6.60 target dated October 6, 2026. At EUR 5.77, the Lang & Schwarz quote is 12.58 percent below the UBS target, leaving the valuation question tied to regulation and execution rather than to the De Nora proceeds alone.

Results date is November 11

Snam's next scheduled reporting date is November 11, 2026, when the company plans to publish its interim report for the period ended September 30, 2026. The investor-relations calendar also places the presentation of the consolidated 2026 financial statements in March 2027, with the precise date to be set under stock-exchange rules.

Price holds the immediate signal

For investors, the central market reference is the gap between the live euro quote and the analyst target. The company reported EUR 3,885 million of revenue, EUR 1,422 million of adjusted net profit and EUR 2,758 million of investments for fiscal year 2025 on its investor-relations page, while the July 2026 first-half results provide the next operating checkpoint.

Snam stock was trading at EUR 5.77 at Lang & Schwarz on October 16, 2026 at 10:38 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Snam stock.