Dahlman Rose Downgrades Tenaris S.A. (TS) to Hold

February 11, 2013 8:30 AM EST
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Price: $36.09 +0.39%

Rating Summary:
    6 Buy, 14 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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Dahlman Rose downgraded Tenaris S.A. (NYSE: TS) from Buy to Hold along with 8 other oil service names on valuation citing recent strength.

"We continue to have a positive view on the performance of the oil service group," the analyst said. "At this point, we have a clear preference for those companies strongly exposed to the multiyear upturn forecast for international exploration and production spending and those oriented toward the exceptional outlook for ultra-deepwater. Given the sluggish outlook for North American E&P spending and the outperformance recently of North America-oriented stocks, we are deemphasizing this group."

For an analyst ratings summary and ratings history on Tenaris S.A. click here. For more ratings news on Tenaris S.A. click here.

Shares of Tenaris S.A. closed at $40.06 yesterday.

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