Saipem (OTCMKTS:SAPMF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Saipem S.p.A. provides drilling services as well as engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore primarily in the oil & gas market. Saipem S.p.A. is headquartered in Milan, Italy. “

SAPMF has been the subject of several other reports. Jefferies Financial Group lowered shares of Saipem from a “buy” rating to a “hold” rating in a report on Monday, March 30th. ValuEngine raised shares of Saipem from a “sell” rating to a “hold” rating in a report on Tuesday, March 10th.

Saipem stock opened at $2.55 on Tuesday. The firm has a 50 day moving average of $2.44 and a 200 day moving average of $3.35. Saipem has a 12-month low of $2.25 and a 12-month high of $4.95.

Saipem Company Profile

Saipem S.p.A., together with its subsidiaries, engages in the drilling, engineering, procurement, construction, and installation businesses worldwide. The company operates through five divisions: Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling, and Floaters segments. It provides engineering, procurement, project management, and construction services primarily for the oil and gas, complex civil and marine infrastructure, and environmental markets.

Recommended Story: Cost of Equity

Get a free copy of the Zacks research report on Saipem (SAPMF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Saipem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saipem and related companies with MarketBeat.com's FREE daily email newsletter.