Deutsche Bank: ENI to «Hold», Total to «Buy»

The shares of Italian oil major ENI have been downgraded to 'hold' from 'buy' at Deutsche Bank as analysts there recommend investors switch into Total which they have upgraded to 'buy' from 'hold', dealers said.

They maintain their 18 euro price target on ENI but lift their price target on Total to 175 euro from 155 euro.

Dealers said Total has been the weakest European oil share this year, but they said they now expect the company to offer much better leverage on the improving macro environment.