| 2018-06-14 07:55:09|
TS, VLOUF 07:55 06/14 06/14/18
Tenaris initiated with a Buy at BTIG
BTIG analyst Igor Levi initiated Tenaris (TS) with a Buy rating and a price target of $50 as part of his broader research note on the oilfield service sector amid a tightening oil macro picture. The analyst contends that Tenaris is the most attractive way to play the trend of higher U.S. mill utilization rates - which he expects to rise to "unprecedented" levels of over 90% by year-end - as a result of the recent import quotas. Levi also sees "meaningful upside" for Vallourec (VLOUF), but warns about its higher risk profile.