Saipem SpA Stock Rating Reaffirmed by AlphaValue (SPM)

Saipem SpA (BIT: SPM)‘s stock had its “reduce” rating reaffirmed by equities researchers at AlphaValue in a research report issued on Thursday, Analyst Ratings.Net reports. They currently have a €21.10 ($27.40) target price on the stock.

Saipem SpA (BIT: SPM) traded up 1.10% on Thursday, hitting €20.1600. 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 €8.859 billion and a price-to-earnings ratio of 9.73.

Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie reiterated an “underperform” rating on shares of Saipem SpA in a research note to investors on Wednesday, June 5th. They now have a SEK 19.70 price target on the stock. Separately, 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. Finally, 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.

Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target 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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