Saipem (OTCMKTS:SAPMF) Sets New 12-Month High – Still a Buy?

Saipem (OTCMKTS:SAPMF) shares hit a new 52-week high on Thursday . The company traded as high as $623.27 and last traded at $623.27, with a volume of 1114004 shares changing hands. The stock had previously closed at $2.85.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SAPMF. Kepler Capital Markets raised Saipem to a “strong-buy” rating in a report on Monday, December 22nd. Citigroup upgraded Saipem to a “strong-buy” rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Saipem Stock Performance

The firm has a 50 day moving average price of $2.72 and a 200-day moving average price of $2.75.

About Saipem

Saipem is a leading global engineering and construction company specializing in upstream, midstream and downstream projects for the oil and gas industry. The company offers a full suite of services including engineering, procurement, construction and installation (EPCI) for onshore and offshore facilities, as well as specialized drilling services. Its expertise spans the development of floating production units, subsea pipelines, and complex petrochemical plants, catering to major energy producers and national oil companies around the world.

In addition to its core oil and gas portfolio, Saipem has expanded into renewable energy and infrastructure markets, leveraging its engineering capabilities in areas such as offshore wind, hydrogen, and carbon capture and storage.