Goldman Sachs Raises Snam to Buy, Cites Infrastructure-Driven Outlook
Goldman Sachs upgraded Snam SpA to Buy from Neutral and lifted its price target to EUR6.90 from EUR6.50, citing Italy's changing role in European gas flows and continued infrastructure investment. The bank projects roughly 5% EPS compound annual growth over the next five years and forecasts Snam trading at about 11.5 times earnings by 2030 under it…