Berenberg Bank analyst maintained a Buy rating on Saipem SpA on July 25 and set a price target of €3.40. The company’s shares closed last Friday at €2.35.
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Currently, the analyst consensus on Saipem SpA is a Strong Buy with an average price target of €3.19, representing a 35.74% upside. In a report released on July 24, RBC Capital also maintained a Buy rating on the stock with a €3.40 price target.
Based on Saipem SpA’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of €3.52 billion and a net profit of €77 million. In comparison, last year the company earned a revenue of €3.05 billion and had a net profit of €57 million
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPEA in relation to earlier this year.
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