Jefferies Upgrades Tenaris S.A. (TS) to Buy

Jefferies analyst Jamie Franklin upgraded Tenaris S.A. (NYSE: TS) from Hold to Buy with a price target of $47.00 (from $35.00).

The analyst comments: "In our 3Q preview we viewed potential for upside to consensus in 2025, we now raise FY25e EBITDA by 7% to $3.0bn on our higher US pricing assumptions. Guidance at 3Q implied c.$700m EBITDA in 1Q25, we model a gradual ramp-up each quarter through 2025 on both pricing & volume recovery, while our FY25e volume estimate of 4mt assumes modest 3% y/y growth."

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 $37.77 yesterday.

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