Saipem SpA(ADR) (NASDAQ:SAPMY) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Monday, AmericanBankingNews.com reports.
Shares of Saipem Sp (NASDAQ:SAPMY) opened at 11.227 on Monday. Saipem Sp has a 1-year low of $7.93 and a 1-year high of $22.46. The stock has a 50-day moving average of $11.36 and a 200-day moving average of $11.17. The company has a market cap of $9.867 billion and a P/E ratio of 8.46.
A number of other analysts have also recently weighed in on SAPMY. Analysts at Macquarie upgraded shares of Saipem SpA(ADR) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 29th. Separately, analysts at Canaccord Genuity initiated coverage on shares of Saipem SpA(ADR) in a research note to investors on Friday, October 25th. They set a “hold” rating on the stock. Finally, analysts at Natixis upgraded shares of Saipem SpA(ADR) from a “reduce” rating to a “neutral” rating in a research note to investors on Monday, September 30th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock has a consensus rating of “Hold”.
Saipem SpA is an Italy-based company active as contractor in the oil and gas industry in remote areas and deepwater.
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