Zacks Investment Research upgraded shares of Saipem (OTCMKTS:SAPMF) from a sell rating to a hold rating in a research note released on Thursday, 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 several other reports. Jefferies Financial Group cut Saipem from a hold rating to an underperform rating in a report on Thursday, April 11th. Goldman Sachs Group raised Saipem from a neutral rating to a buy rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $4.75.

OTCMKTS:SAPMF opened at $5.15 on Thursday. Saipem has a 1-year low of $4.16 and a 1-year high of $6.20.

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.

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