(Finance) – Strong rise for Saipemwhich shows a burning rise of 5.09% on previous values.
The promotion coming from Berenberg analysts who raised the target price from 2.85 to 3.08 euros contributes to assisting the shares. “Buy” rating confirmed.
The trend of the stock analyzed on a weekly basis shows a similar trend to that of FTSE MIB. This means that the stock is supported by elements from the market rather than news related to the company itself.
The medium-term structure remains positively connoted, while signs of contraction emerge due to the short-term approach forced to deal with the resistance identified at 2.171 euros. The functional support role offered by 2.048 is still excellent. Overall, the general context could justify a continuation of the consolidation phase towards 1.968.