Saipem SpA Given New €27.50 Price Target at Morgan Stanley (SPM)

Equities researchers at Morgan Stanley decreased their target price on shares of Saipem SpA (BIT: SPM) from €30.00 ($38.96) to €27.50 ($35.71) in a research report issued on Thursday, Stock Ratings Network.com reports.

Other equities research analysts have also recently issued reports about the stock. Analysts at Banca Akros reiterated a “hold” rating on shares of Saipem SpA in a research note to investors on Tuesday, May 21st. They now have a €20.00 ($25.97) price target on the stock. Separately, analysts at AlphaValue reiterated a “reduce” rating on shares of Saipem SpA in a research note to investors on Thursday, May 16th. They now have a €21.10 ($27.40) price target on the stock. Finally, analysts at AlphaValue reiterated a “reduce” rating on shares of Saipem SpA in a research note to investors on Thursday, May 2nd. They now have a €20.70 ($26.88) price target on the stock.

Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of €27.96 ($36.31).

Saipem SpA (BIT: SPM) traded down 1.29% on Thursday, hitting €20.7100. Saipem SpA has a 1-year low of €18.6100 and a 1-year high of €40.1200. The stock’s 50-day moving average is currently €38.08. The company has a market cap of €9.100 billion and a price-to-earnings ratio of 10.23.

Saipem SpA is an Italy-based company active as contractor in the oil and gas industry in remote areas and deepwater.

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