UBS starts Italgas with 'buy', sees growth at discount

Italgas SpA

20/10/2025 12:20

** UBS initiates coverage of Italian gas distributor Italgas IG.MI with a "buy" rating, estimating a relevant asset base growth of 12% annually over the 2024-2030 period

** The brokerage sees Italgas' acquisition of 2i Rete Gas in April as major driver of future growth, and adds that the first Capital Markets Day post the deal on October 30 will be a key catalyst

** It notes Italgas' share price is up 65% YTD, making it one of the best performers in the sector, while still being at a "material discount" compared to peers

** UBS sets its PT at 9.3 euros, implying a potential 16% upside

** Out of 15 analysts that cover Italgas, 10 rate the stock "strong buy" or "buy,"​ five rate it "hold" - LSEG data

 (Reporting by Mirko Miorelli)

 ((mirko.miorelli@thomsonreuters.com))