Morgan Stanley downgraded Tenaris to Underweight from Overweight with a $40 price target. The firm says the stock screens less favorably versus its global peers on key drivers. Shareholder returns upside represents a less meaningful catalyst at this point relative to the last 12 months, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>