Saipem SpA (NASDAQ:SAPMD) was downgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday.

Separately, Macquarie raised Saipem SpA from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 16th.

Shares of Saipem SpA (SAPMD) remained flat at $7.66 during mid-day trading on Wednesday. The stock’s 50 day moving average price is $7.87 and its 200 day moving average price is $8.94. The stock’s market capitalization is $3.87 billion. Saipem SpA has a 12-month low of $4.80 and a 12-month high of $85.60.

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Saipem SpA Company Profile

Saipem SpA is an Italy-based company active as contractor in the oil and gas industry in remote areas and deepwater. It supplies engineering, procurement, project management and construction services with the design and the execution of offshore and onshore projects. It is organized into two business units: Engineering & Construction and Drilling.

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