Zacks Investment Research Upgrades Saipem (OTCMKTS:SAPMF) to Buy

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Zacks Investment Research upgraded shares of Saipem (OTCMKTS:SAPMF) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. They currently have $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. The stock’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $5.03. Saipem has a 52 week low of $4.16 and a 52 week high of $6.20.

About Saipem

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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