Saipem: Stifel downgrades stock
(CercleFinance.com) - Stifel downgrades its rating on Saipem shares from "buy" to "hold" with an unchanged target price of E2.
5.
While Saipem will publish its Q4 and FY2024 results on 26 February, Stifel expects Q4 sales to rise by around 11% y-o-y, with EBITDA improving significantly (+44%).
We expect the order book to reach a solid level of E34bn (2.4x 2024e sales), Stifel says, which expects full-year results to confirm the positive momentum, particularly in the offshore sector.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5.
While Saipem will publish its Q4 and FY2024 results on 26 February, Stifel expects Q4 sales to rise by around 11% y-o-y, with EBITDA improving significantly (+44%).
We expect the order book to reach a solid level of E34bn (2.4x 2024e sales), Stifel says, which expects full-year results to confirm the positive momentum, particularly in the offshore sector.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.