Saipem SpA
SPM: XMIL (ITA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€9.10 | Xnc | Gjwbrxmzt |
Saipem Earnings: Firm on Track to Meet 2023 Performance Goals; Long-Run Prospects Remain Favorable
Saipem continued on a solid growth trajectory in the third quarter as global offshore oil and gas activity continued to expand at a steady clip. Management confirmed the fiscal 2023 guidance it set in February, and we expect the firm will deliver similar performance in 2024. We maintain our no-moat rating and EUR 2.50 fair value estimate following the results.