Saipem SpA Stock Rating Reaffirmed by Macquarie (SPM)

Macquarie reiterated their underperform rating on shares of Saipem SpA (BIT: SPM) in a research report sent to investors on Wednesday morning, Analyst Ratings.Net reports. The firm currently has a SEK 19.70 price target on the stock.

Shares of Saipem SpA (BIT: SPM) traded up 0.65% during mid-day trading on Wednesday, hitting €20.2300. Saipem SpA has a one year low of €18.6100 and a one year high of €40.1200. The stock’s 50-day moving average is currently €38.08. The company has a market cap of €8.889 billion and a P/E ratio of 9.80.

Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley cut their price target on shares of Saipem SpA from €30.00 ($38.96) to €27.50 ($35.71) in a research note to investors on Thursday, May 30th. Separately, 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. Finally, 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.

Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of €28.06 ($36.44).

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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