(Finance) – Barclays has increased to 23.5 euros For action (+4%) the target price on TenarisItalian giant of the supply of pipes and services for the exploration and production of oil and gas, confirming the recommendation “Overweight“.
Analysts write that, while the commercial environment with its numerous potential parties in motion both in the United States and abroad takes Tenaris to “unexplored territories”, Its staircase and global presence allowed her to navigate the disputes of the past. It is emphasized that no undercover company has the breath of the Tenaris OCTG infrastructure and the possible rates in the United States are designed to strengthen that market for national producers, of which Tenaris is the largest.
“So, although the rates have created uncertainties on market conditions in the second half, we do not see any important threat to it – reads the research – it is important to underline that the company maintains an impressive net cash balance, in our opinion, e further cash returns remain a possibility, assuming that mergers and acquisitions do not occurin which the company was historically very skilled “.
Consequently, Barclays recognizes uncertainty in the short term, thinking in general that it could be a positive factor, with the first indications that the prices have already moved upwards and, in the current context, the indications and prospects of market lead to Increase EBITDA 2025-26 EBITDA estimates by 1-4%.