Tenaris S.A. Rating Lowered to Neutral at Bank of America Corp. (TEN)
Tenaris S.A. (BIT:TEN) was downgraded by Bank of America Corp. from a “buy” rating to a “neutral” rating in a research note issued on Friday, StockRatingsNetwork.com reports.
Separately, analysts at AlphaValue reiterated a “reduce” rating on shares of Tenaris S.A. (BIT:TEN) in a research note to investors on Thursday, July 11th. They now have a €16.20 ($21.89) price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Tenaris S.A. has an average rating of “Hold” and a consensus target price of €15.71 ($21.23).
Shares of Tenaris S.A. (BIT:TEN) traded down 3.47% on Friday, hitting €17.2300. 3,420,451 shares of the company’s stock traded hands. Tenaris S.A. has a 52 week low of €13.8000 and a 52 week high of €18.4500. The stock’s 50-day moving average is €17.16 and its 200-day moving average is €16.34. The company has a market cap of €20.341 billion and a P/E ratio of 12.80.
Tenaris SA is a Luxembourg-based holding company engaged in the steel pipe manufacturing and distributing businesses.
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