Price Target Update on Tenaris S.A. (NYSE:TS)

Tenaris S.A. (NYSE:TS) stock is expected to deviate a maximum of $5.4 from the average target price of $26 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $34 and the most muted being $21.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Brokerage Firm, Citigroup, upgrades their rating on the shares of Tenaris S.A. (NYSE:TS). Citigroup has a Neutral rating on the shares. Previously, the analysts had a Sell rating on the shares. As per the latest research report, the brokerage house raises the price target to $28 per share from a prior target of $19. The rating by the firm was issued on April 20, 2016.

Tenaris S.A. (NYSE:TS): stock turned positive on Thursday. Though the stock opened at $29.68, the bulls momentum made the stock top out at $29.74 level for the day. The stock recorded a low of $29.08 and closed the trading day at $29.62, in the green by 5.30%. The total traded volume for the day was 4,473,941. The stock had closed at $28.13 in the previous days trading.

The company shares have rallied 1.41% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $29.69 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $26.87 and the 200 Day Moving Average price is recorded at $24.10.

Tenaris S.A is a holding company, which is engaged in the steel pipe manufacturing and distribution businesses. The Company produces and sells both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. It operates in geographical areas, which include North America, South America, Europe, Middle East, Africa, and Far East and Oceania. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. It also manufactures sucker rods used in oil extraction activities, industrial equipment of various specifications and applications, including liquid and gas storage equipment, and welded steel pipes for electric conduits used in the construction industry.

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