Tenaris drives up the oil sector of Piazza Affari which is emerging today. After 1pm, the stock rises by almost 7% to 13.7 euros (intraday maximum and 13.8 euros), followed by Saipem and Eni, which respectively gained approximately 6% and 2.5%. To give gas to the sector the good performance of oil which benefits from the statements of the Saudi energy minister according to which OPEC could cut production as the lack of liquidity is distorting the financial (future) market compared to the physical one, no longer reflecting its fundamentals.
Tenaris today also received the positive evaluation of Kepler Cheuvreux. The analysts confirmed the purchase rating (buy rating) and revised the target price upwards, which went from 21 to 22.5 euros. The stock has risen by over 49% since the beginning of the year. The consensus of analysts on Bloomberg remains oriented on the buy and indicates for Tenaris 77.8% of buy opinions, 11.1% hold and 11.1% always says Sell.