Barclays Maintains an 'Overweight' on Tenaris S.A. (TS); Seamless Volume Acceleration Under Way
Tweet
Share
E-mailGet Alerts TS Hot Sheet
Price: $52.66 -0.04%
Rating Summary:
13 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
13 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Barclays maintains an 'Overweight' on Tenaris S.A. (NYSE: TS), PT increased from $58 to $60.
Barclays analyst says, "We believe Tenaris is a good way to invest in the international E&P spending upcycle that has recently restarted and the global expansion in offshore deepwater drilling. In the domestic land markets, the company is also likely to benefit from increased demand for premium and higher quality welded products due to the shift towards horizontal drilling, oil and liquids-rich reservoirs and shale plays. Considerable volume and potential pricing leverage is on the horizon."
"We are raising our 2011 and 2012 EPS estimates for Tenaris to $2.65 (from $2.45) and $3.65 (from $3.50) primarily reflecting increased volume assumptions for seamless tubular goods, and to a lesser extent higher margins."
For more ratings news on Tenaris S.A. click here and for the rating history of Tenaris S.A. click here.
Shares of Tenaris S.A. closed at $47.89 yesterday.
Barclays analyst says, "We believe Tenaris is a good way to invest in the international E&P spending upcycle that has recently restarted and the global expansion in offshore deepwater drilling. In the domestic land markets, the company is also likely to benefit from increased demand for premium and higher quality welded products due to the shift towards horizontal drilling, oil and liquids-rich reservoirs and shale plays. Considerable volume and potential pricing leverage is on the horizon."
"We are raising our 2011 and 2012 EPS estimates for Tenaris to $2.65 (from $2.45) and $3.65 (from $3.50) primarily reflecting increased volume assumptions for seamless tubular goods, and to a lesser extent higher margins."
For more ratings news on Tenaris S.A. click here and for the rating history of Tenaris S.A. click here.
Shares of Tenaris S.A. closed at $47.89 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tenaris S.A. (TS) PT Lowered to $60 at Morgan Stanley
- Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'
- Cummins (CMI) PT Lowered to $675 at Jefferies
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
