Zacks Investment Research upgraded shares of Saipem (OTCMKTS:SAPMF) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $5.75 price target on the stock.
According to Zacks, “Saipem S.p.A. provides drilling services as well as engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore primarily in the oil & gas market. Saipem S.p.A. is headquartered in Milan, Italy. “
Shares of OTCMKTS SAPMF opened at $4.40 on Tuesday. The business has a fifty day moving average of $5.12 and a two-hundred day moving average of $5.03. Saipem has a 52-week low of $4.16 and a 52-week high of $6.20.
Saipem S.p.A., together with its subsidiaries, engages in the drilling, engineering, procurement, construction, and installation businesses worldwide. The company operates through five divisions: Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling, and Floaters segments. It provides engineering, procurement, project management, and construction services primarily for the oil and gas, complex civil and marine infrastructure, and environmental markets.
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