Eni S.p.A. ( E) Company Profile: Based in Rome, Eni S.p.A. is an Italian diversified oil major with exploration and production operations in 43 countries. AFAM's Target Price: $77.11 Potential Upside From Current Levels: 78% Clark's Take: Eni shares have faced headwinds due to the company's exposure to Libya. Although near-term geopolitical risks are critical, Clark says those risks are offset by Eni's gas and power business, which he says add a measure of stability since this segment is less sensitive to volatile commodity prices. "Additionally, we are encouraged by the company's exploration momentum with recently announced oil and gas finds in Norway and Ghana," Clark says. "Non-essential divestitures and solid free-cash-flow generation should continue to strengthen the balance sheet, and support (and possibly increase) the dividend. Shares of Eni currently carry more than a 4% dividend yield and trade at a material discount to peer-group average multiples for earnings, book value and enterprise value-to-EBIDTA."