The Goldman Sachs Group Upgrades Snam (OTCMKTS:SNMRY) to “Strong-Buy”

Snam (OTCMKTS:SNMRY) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Sanford C. Bernstein cut Snam from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Snam Stock Performance

Shares of Snam stock opened at $14.84 on Tuesday. Snam has a 1-year low of $9.13 and a 1-year high of $15.15. The business has a 50-day moving average of $13.59 and a 200-day moving average of $12.78.

About Snam

Snam S.p.A. is an Italian natural gas infrastructure company specializing in the transportation, storage and regasification of natural gas. Headquartered in San Donato Milanese, near Milan, Snam operates one of the largest gas pipeline networks in Europe, overseeing both high-pressure transmission lines and interconnection points that link the Italian system with broader continental markets. The company’s core business activities encompass the development, maintenance and operation of gas transport facilities, as well as the balancing and dispatching services that ensure a reliable energy supply.

Founded in 1941 as the gas transportation arm of ENI, Società Nazionale Metanodotti was reorganized under its current name and structure in 2001, when it became an independent concessionaire and a publicly listed entity on the Milan Stock Exchange.