Jefferies analyst Jamie Franklin last night initiated coverage of Tenaris with a Buy rating and $41.80 price target. “With through-cycle profitability that is unparalleled” in Euro oilfield services and a growing net cash balance, Tenaris offers leading U.S. oil country tubular goods exposure with a “compelling risk/reward skew” despite pricing normalization headwinds, the analyst tells investors in a research note. The analyst says Tenaris has a “remarkable operational delivery record.”
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TS:
- Tenaris initiated with a Buy at Jefferies
- TECPETROL ANNOUNCES INTENTION TO MAKE ALL-CASH TAKE-OVER BID DIRECTLY TO SHAREHOLDERS OF ALPHA LITHIUM CORPORATION
- Shareholders approve all resolutions on the agenda of Tenaris’s Annual General Meeting
- Tenaris price target lowered to $44 from $49 at Piper Sandler