(CercleFinance.com) – Saipem wins 5% in Milan, supported by favorable comments from Berenberg who reaffirms his ‘buy’ recommendation with a price target raised from 1.90 to 2.90 euros on the group’s share Italian para-petroleum services.
‘Despite another quarter of solid performance, a record order book and a significantly stronger balance sheet year-on-year, Saipem remains an undervalued and, in our view, undervalued company’, the broker said.
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