Zacks Investment Research upgraded shares of Saipem (OTCMKTS:SAPMF) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $5.75 target price 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. “
OTCMKTS SAPMF opened at $4.40 on Tuesday. Saipem has a 1-year low of $4.16 and a 1-year high of $6.20. The business has a 50 day moving average price of $5.11 and a 200 day moving average price of $5.03.
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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