Saipem : A group lifted by a buoyant market
>Reduce recommendation maintained - In the framework of our sector hierarchy we maintain our Reduce recommendation on the stock. Indeed, even though momentum on the sector clearly shows signs of inflection and Saipem should also benefit from it, we think the stock is already at its price. We favour the players with greatest exposure to the engineering – offshore construction activity. In our view, Saipem’s positioning on drilling is a real obstacle to reaping the ful...Saipem is a global contractor with local presence in Africa, Central Asia, America, the Middle East and South East Asia. Co. provides engineering, procurement, construction and installation services; and engineering, procurement and construction services to the oil and gas industry, both onshore and offshore, with a focus on projects, including activities in remote areas, in deep waters and on projects that involve difficult gas or crude supplies.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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