The stock of Tenaris SA (ADR) (NYSE:TS) hit a new 52-week high and has $48.07 target or 55.00% above today’s $31.01 share price. The 6 months bullish chart indicates low risk for the $19.39 billion company. The 1-year high was reported on Nov, 10 by Barchart.com. If the $48.07 price target is reached, the company will be worth $10.66 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 362,626 shares traded hands. Tenaris SA (ADR) (NYSE:TS) has risen 21.78% since April 8, 2016 and is uptrending. It has outperformed by 16.13% the S&P500.
Tenaris SA (ADR) (NYSE:TS) Ratings Coverage
Out of 14 analysts covering Tenaris SA (NYSE:TS), 5 rate it a “Buy”, 3 “Sell”, while 6 “Hold”. This means 36% are positive. $34 is the highest target while $26 is the lowest. The $30.19 average target is -2.64% below today’s ($31.01) stock price. Tenaris SA has been the topic of 22 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was upgraded by Bernstein on Tuesday, September 8 to “Outperform”. Simmons & Co upgraded Tenaris SA (ADR) (NYSE:TS) on Tuesday, October 18 to “Overweight” rating. Howard Weil upgraded Tenaris SA (ADR) (NYSE:TS) on Thursday, September 17 to “Sector Outperform” rating. As per Wednesday, April 20, the company rating was upgraded by Citigroup. The firm has “Focus Stock” rating given on Monday, December 14 by Howard Weil. On Monday, May 2 the stock rating was downgraded by Howard Weil to “Sector Outperform”. On Tuesday, October 11 the stock rating was initiated by Berenberg with “Hold”. Credit Suisse downgraded the shares of TS in a report on Wednesday, October 7 to “Underperform” rating. The firm has “Hold” rating by Kepler Cheuvreux given on Friday, November 6. The rating was upgraded by Scotia Capital to “Outperform” on Thursday, September 17.
According to Zacks Investment Research, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa.”
Another recent and important Tenaris SA (ADR) (NYSE:TS) news was published by Marketwatch.com which published an article titled: “Tenaris SA ADR” on May 22, 2009.
TS Company Profile
Tenaris S.A., incorporated on January 9, 2002, is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Firm operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the gas and oil industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. The Firm operates in geographical areas, which include North America, South America, Europe, Middle East, Africa, and Far East and Oceania.
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