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Fly News Breaks for February 21, 2020
TS
Feb 21, 2020 | 07:33 EDT
As reported previously, Cowen analyst Marc Bianchi upgraded Tenaris to Outperform from Market Perform. The analyst sees its estimates as de-risked and views the 2020 margin target largely achieved through IPSCO execution. He also said valuation and cash generation are attractive and the recent pullback has provided a better entry point. Bianchi raised his price target to $25 from $24 on Tenaris shares.
News For TS From the Last 2 Days
TS
Apr 25, 2024 | 16:55 EDT
The company said, "For the second quarter, as anticipated, our sales and margins will be lower than the first quarter reflecting the ongoing decline in OCTG prices in the Americas. In the third quarter, we will have stoppages at many of our mills, including at our Siderca steel shop where we will install a new furnace that will improve our environmental footprint, and this will lead to a further decline in sales and margins in the quarter."
