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

Saipem (OTCMKTS:SAPMF)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $3.55 and last traded at $3.51, with a volume of 2000 shares traded. The stock had previously closed at $3.32.

Analyst Upgrades and Downgrades

SAPMF has been the subject of several recent analyst reports. Kepler Capital Markets upgraded Saipem to a “strong-buy” rating in a research note on Monday, December 22nd. Citigroup upgraded Saipem to a “strong-buy” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Saipem Price Performance

The company has a 50-day moving average price of $2.85 and a 200-day moving average price of $2.78.

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.