Saipem (OTCMKTS:SAPMF) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Saipem (OTCMKTS:SAPMF) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Saipem S.p.A. provides drilling services as well as engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore primarily in the oil & gas market. Saipem S.p.A. is headquartered in Milan, Italy. “

SAPMF has been the subject of a number of other research reports. ValuEngine upgraded shares of Saipem from a sell rating to a hold rating in a research note on Tuesday, March 10th. Jefferies Financial Group lowered shares of Saipem from a buy rating to a hold rating in a report on Monday, March 30th.

OTCMKTS:SAPMF opened at $2.55 on Tuesday. Saipem has a 1 year low of $2.25 and a 1 year high of $4.95. The firm has a 50 day moving average of $2.51 and a 200-day moving average of $3.24.

Saipem Company Profile

Saipem S.p.A., together with its subsidiaries, engages in the drilling, engineering, procurement, construction, and installation businesses worldwide. The company operates through five divisions: Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling, and Floaters segments. It provides engineering, procurement, project management, and construction services primarily for the oil and gas, complex civil and marine infrastructure, and environmental markets.

Featured Story: What is the significance of a dead cat bounce?

Get a free copy of the Zacks research report on Saipem (SAPMF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Saipem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saipem and related companies with MarketBeat.com's FREE daily email newsletter.