Tenaris price target raised to $32 from $30 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Tenaris to $32 from $30 and keeps an Underweight rating on the shares. For the Energy Services & Equipment space more broadly, the analyst contends that 2025 expectations have the most potential to drive relative near-term stock performance versus second half results, as the range of potential outcomes for O&G and OFSE markets is “particularly wide” at the moment.