Tenaris price target raised to EUR 21 from EUR 20 at TD Cowen

TD Cowen analyst Marc Bianchi raised the firm’s price target on Tenaris (TS) to EUR 21 from EUR 20 and keeps a Buy rating on the shares. The firm again lowered global oilfield services activity assumptions for 2025 and beyond, saying market data and industry commentary “continues to erode.” The group continues to be challenged by downward revisions, particularly for shorter cycle businesses, the analyst tells investors in a research note. That said, TD sees stock valuations as broadly attractive.