Saipem: Berenberg initiates coverage with 'buy'
(CercleFinance.com) - Berenberg has initiated its coverage of the Saipem share with a "buy" rating and a target price of 5.
5 euros, which has sent the shares up on Tuesday.
"After several difficult years of weak performance, there are reasons to be more optimistic for European oil services," the German broker wrote in a report.
Berenberg made the Italian group a "top pick", alongside TechnipFMC.
The Saipem stock is currently up 2.2% at 4.4 euros.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5 euros, which has sent the shares up on Tuesday.
"After several difficult years of weak performance, there are reasons to be more optimistic for European oil services," the German broker wrote in a report.
Berenberg made the Italian group a "top pick", alongside TechnipFMC.
The Saipem stock is currently up 2.2% at 4.4 euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.