Report
Baptiste Lebacq

Tenaris : Vers une pause sous l’effet d’une moindre dynamique du marché américain

>Opinion Alléger maintenue et OC à 12.3 € - Nous maintenons notre recommandation Alléger sur le titre, la dynamique en Amérique du Nord marque des signes de stabilisation alors qu’en Amérique du Sud (Mexique et Argentine) des inflexions de tendances commencent à se faire jour (respectivement des problèmes de financements et une détérioration du mix). La reprise dans l’hémisphère est reste quant à elle graduelle. Notre objectif de cours est de 12.3 € et reste basé sur ...
Underlying
Tenaris S.A.

Tenaris manufactures and supplies seamless steel pipe products for the global oil and gas industry, as well as other industrial applications. Co. operates an integrated worldwide network of steel pipe manufacturing, research, finishing, and service facilities with industrial operations in the Americas, Europe, Asia, and Africa. Co. produces pipes for boilers, heat exchangers, hydraulic cylinders, automotive, structural and other industrial applications and supplies welded steel pipes for oil and gas pipelines in the South American region. Its principal products include casing, tubing, line pipe, and mechanical and structural pipes. Co.'s organizes its business around one segment: Tubes.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Baptiste Lebacq

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