BNP Paribas Upgrades Tenaris SA (TS) to Hold

By Austin Angelo

In a report released yesterday, Exane BNP Paribas from BNP Paribas upgraded Tenaris SA (TSResearch Report) to Hold. The company’s shares closed last Tuesday at $21.47, close to its 52-week high of $21.97.

Currently, the analyst consensus on Tenaris SA is a Hold with an average price target of $18.88.

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Based on Tenaris SA’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.13 billion and net profit of $107 million. In comparison, last year the company earned revenue of $1.74 billion and had a net profit of $152 million.

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Tenaris SA manufactures and supplies steel pipe products. The company engages in the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. Tenaris was founded in 1909 and is headquartered in Luxembourg.