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Publicado: Mié Feb 17, 2010 8:45 pm
TS To Benefit From Improving Industry Fundamentals
Analyst Stephen D Gengaro of Jefferies & Co maintains his "buy" rating on Tenaris (NYSE: TS), while raising his estimates for the company. The target price for TS has been raised from $45 to $53.
According to Jefferies & Co, Tenaris is well positioned to benefit from higher deepwater activities, rising higher-end product sales driven by increased non-conventional activity, and an improving US OCTG inventory situation. “OCTG pricing has started to move higher with January average alloy welded pricing up 2.7% sequentially and alloy seamless showing modest signs of improvement,” the analyst says.
“Near term we believe rising utilization and slightly higher prices will offset cost creep and enable Tenaris to show sequentially higher operating margins over the next several quarters,” the analyst adds. Jefferies & Co has raised its EPS estimates for 2009 and 2010 from $2.02 to $2.06 and from $2.25 to $2.50, respectively.
http://www.benzinga.com/analyst-ratings ... ndamentals
una cosa es verdad, vienen subiendo el precio de los OTG USD 75/TON cada 2 meses.
Analyst Stephen D Gengaro of Jefferies & Co maintains his "buy" rating on Tenaris (NYSE: TS), while raising his estimates for the company. The target price for TS has been raised from $45 to $53.
According to Jefferies & Co, Tenaris is well positioned to benefit from higher deepwater activities, rising higher-end product sales driven by increased non-conventional activity, and an improving US OCTG inventory situation. “OCTG pricing has started to move higher with January average alloy welded pricing up 2.7% sequentially and alloy seamless showing modest signs of improvement,” the analyst says.
“Near term we believe rising utilization and slightly higher prices will offset cost creep and enable Tenaris to show sequentially higher operating margins over the next several quarters,” the analyst adds. Jefferies & Co has raised its EPS estimates for 2009 and 2010 from $2.02 to $2.06 and from $2.25 to $2.50, respectively.
http://www.benzinga.com/analyst-ratings ... ndamentals
una cosa es verdad, vienen subiendo el precio de los OTG USD 75/TON cada 2 meses.