Saipem (OTCMKTS:SAPMF) Rating Lowered to Hold at Zacks Investment Research

Saipem (OTCMKTS:SAPMFGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Saipem stock opened at $1.18 on Wednesday. Saipem has a 1 year low of $1.07 and a 1 year high of $2.85. The business has a 50-day moving average of $1.21 and a 200-day moving average of $1.86.

Saipem Company Profile (Get Rating)

Saipem SpA engages in the engineering, procurement, and construction of projects in the energy and infrastructure sectors worldwide. The company operates through five divisions: Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, Offshore Drilling, Onshore Drilling, and XSIGHT.

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