Equities research analysts at Barclays Capital (NYSE: BCS) boosted their price target on shares of Tenaris (NYSE: TS) from $56.00 to $64.00 in a research note to clients and investors on Wednesday. The analysts currently have an “overweight” rating on the stock.
Tenaris SA is a Luxembourg-based holding company active in the supply of tubes and related services mainly for the energy industry and certain other industrial applications. The customers of the Company include oil and gas and engineering companies engaged in constructing oil and gas gathering, transportation and processing facilities. The products of the Company include casing, tubing, line pipe, and mechanical and structural pipes. The Company has three business segments: Tubes, Projects, and Other. The Tubes segment includes the operations for the production and sale of both seamless and welded steel tubular products and related services. The Projects segment includes the operations for the production and sale of welded steel pipe products used for pipeline projects. The Other segment includes the operations for the production and sale of sucker rods, welded steel pipes for electric conduits, industrial equipment and raw materials.
Shares of Tenaris (NYSE: TS) traded up 2.06% during mid-day trading on Thursday, hitting $47.14. Tenaris has a 52 week low of $32.91 and a 52 week high of $47.79. The stock’s 50-day moving average is $44.21 and its 200-day moving average is $39.4. On average, analysts predict that Tenaris will post $0.69 EPS next quarter. The company has a market cap of $27.825 billion and a price-to-earnings ratio of 26.52.
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