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Saipem SpA (SPEA) Receives a Buy from RBC Capital

Saipem SpA (SPEA) Receives a Buy from RBC Capital

RBC Capital analyst Victoria Mcculloch maintained a Buy rating on Saipem SpA (SPEA – Research Report) yesterday and set a price target of €3.40. The company's shares closed last Tuesday at €2.30.
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Mcculloch covers the Energy sector, focusing on stocks such as Aker BP ASA, TechnipFMC, and Aker Solutions ASA. According to TipRanks, Mcculloch has an average return of 9.0% and a 52.04% success rate on recommended stocks.
Currently, the analyst consensus on Saipem SpA is a Strong Buy with an average price target of €3.25, a 41.12% upside from current levels. In a report released on June 24, Kepler Capital also maintained a Buy rating on the stock with a €3.60 price target.
SPEA market cap is currently €4.52B and has a P/E ratio of 14.81.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPEA in relation to earlier this year.
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