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Analysts at Sanford C. Bernstein initiated coverage on shares of Saipem SpA(ADR) (NASDAQ:SAPMY) in a research report issued to clients and investors on Wednesday. The firm set an “underperform” rating on the stock.

Saipem Sp (NASDAQ:SAPMY) opened at 13.81 on Wednesday. Saipem Sp has a one year low of $7.95 and a one year high of $14.13. The stock’s 50-day moving average is $13.41 and its 200-day moving average is $12.10. The company’s market cap is $12.138 billion.

SAPMY has been the subject of a number of other recent research reports. Analysts at BNP Paribas upgraded shares of Saipem SpA(ADR) from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 4th. Separately, analysts at Barclays downgraded shares of Saipem SpA(ADR) from an “overweight” rating to an “equal weight” rating in a research note on Friday, April 25th. Finally, analysts at Kepler Capital Markets upgraded shares of Saipem SpA(ADR) from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Saipem SpA(ADR) has a consensus rating of “Hold”.

Saipem SpA is an Italy-based company active as contractor in the oil and gas industry in remote areas and deepwater.

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