With an average upside potential of 30.29% according to Wall Street analysts, Eni S.p.A. (NYSE:E) is included among the 10 Most Promising Energy Stocks to Buy Now.

Eni S.p.A. (NYSE:E) operates as an integrated energy company in Italy, the rest of Europe, the United States, Asia, Africa, and internationally.

On July 3, JPMorgan analyst Matthew Lofting trimmed the firm's price target on Eni S.p.A. (NYSE:E) from €28 to €25.50, but maintained an 'Overweight' rating on the shares. The lowered target still implies a robust upside of over 25% from the current levels.

Similarly, Erste Group analyst Hans Engel also turned more bearish on Eni S.p.A. (NYSE:E) when it downgraded the stock from 'Hold' to 'Buy' earlier on June 25. The analyst firm did not assign a specific price target to the shares (read more details here).

The Italian energy giant is guiding an underlying oil and gas production growth of 3-4% for FY 2026. Meanwhile, its gross capex and net capex for the year are targeted at €7 billion and €5 billion, respectively. The company is set to report its Q2 2026 results on July 29.

While we acknowledge the potential of E as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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