Saipem SpA (NASDAQ:SAPMD) was downgraded by equities research analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research note issued on Wednesday.

Separately, Macquarie raised Saipem SpA from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 16th.

Shares of Saipem SpA (NASDAQ SAPMD) remained flat at $7.66 during midday trading on Wednesday. The firm has a 50-day moving average price of $7.87 and a 200-day moving average price of $8.94. The firm’s market cap is $3.87 billion. Saipem SpA has a one year low of $4.80 and a one year high of $85.60.

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About Saipem SpA

Saipem SpA is an Italy-based company active as contractor in the oil and gas industry in remote areas and deepwater. It supplies engineering, procurement, project management and construction services with the design and the execution of offshore and onshore projects. It is organized into two business units: Engineering & Construction and Drilling.

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