Saipem (OTCMKTS:SAPMY) Upgraded to Buy by Societe Generale

Societe Generale upgraded shares of Saipem (OTCMKTS:SAPMYGet Rating) from a sell rating to a buy rating in a report published on Wednesday, The Fly reports.

Other research analysts also recently issued research reports about the company. HSBC initiated coverage on Saipem in a report on Tuesday, November 8th. They set a buy rating on the stock. JPMorgan Chase & Co. initiated coverage on Saipem in a report on Wednesday, November 9th. They set an overweight rating on the stock. Jefferies Financial Group upgraded Saipem from a hold rating to a buy rating in a report on Thursday, October 20th. Finally, Berenberg Bank upgraded Saipem from a hold rating to a buy rating in a report on Thursday, November 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $6.19.

Saipem Stock Down 7.7 %

SAPMY opened at $0.24 on Wednesday. Saipem has a one year low of $1.99 and a one year high of $5.34. The business has a 50 day simple moving average of $0.15 and a two-hundred day simple moving average of $2.92.

About Saipem

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Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through five divisions: Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, Offshore Drilling, Onshore Drilling, and XSIGHT. It offers engineering, construction, installation of platforms, pipelines, subsea fields, maintenance, modification, operation, and decommissioning activities, as well as develops marine wind farms and energy integration projects.

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