UBS upgrades Snam stock to Buy despite a lower target

Published on 10/09/2026 at 12:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UBS cut its target from EUR 6.70 to EUR 6.60 on September 10, 2026. Snam stock costs EUR 5.61 on October 9, 2026 after EUR 5.63, minus 0.36 percent.

Key points in brief

UBS upgraded Snam to Buy on September 10, 2026, while cutting its 12-month target from EUR 6.70 to EUR 6.60.
Snam reported adjusted EBITDA of EUR 1.572 billion for the first half of 2026, up 9.00 percent year over year.
The Lang & Schwarz price was EUR 5.61 on October 9, 2026, down 0.36 percent from the prior close.
Snam's next interim results are scheduled for November 11, 2026.

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Snam (IT0003153415) was priced at EUR 5.61 at Lang & Schwarz on October 9, 2026 at 12:02 p.m. CEST, down 0.36 percent from the EUR 5.63 prior close. UBS upgraded Snam to Buy from Neutral on September 10, 2026, but cut its 12-month price target from EUR 6.70 to EUR 6.60, according to Investing.com.

Why UBS changed its view

The EUR 6.60 target lies 17.65 percent above the Lang & Schwarz price. UBS cited a 15.00 percent price-to-earnings discount to peers and forecast a 5.60 percent compound annual growth rate for Snam's asset base from 2025 to 2030, according to Investing.com. The same assessment projected a 4.10 percent normalized earnings-per-share compound annual growth rate over that period.

Three dated operating milestones

On March 5, 2026, Snam presented fiscal 2025 results showing EUR 3.885 billion of revenue, EUR 1.422 billion of adjusted net profit and EUR 2.758 billion of investments, according to Snam. On July 29, 2026, the company presented first-half results with adjusted EBITDA of EUR 1.572 billion, up 9.00 percent year over year, and adjusted net income of EUR 733 million, according to Snam. On September 10, 2026, UBS moved the rating to Buy and set the EUR 6.60 target, according to Investing.com.

What comes next for reporting?

Snam's next interim financial report, covering the period ended September 30, 2026, is scheduled for November 11, 2026, with a board decision, press release and conference call, according to Snam. The company also indicates March 2027 for its consolidated fiscal 2026 financial statements, according to the same financial calendar.

Stock price and investor context

At EUR 5.61, the Lang & Schwarz quote stood 18.34 percent below its 52-week high of EUR 6.87 and 11.31 percent above its 52-week low of EUR 5.04, with the range dated October 6, 2026. The current market value was EUR 18.6 billion as of October 8, 2026.

The further course of trading is shown by the continuously updated real-time quote of Snam stock.