Saipem price target lowered to EUR 3.35 from EUR 3.40 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Saipem (SAPMY) to EUR 3.35 from EUR 3.40 and keeps an Overweight rating on the shares. The firm says Saipem and Subsea 7 remain its preferred picks to play European energy services in 2025. Saipem’s strategic update will be an “important catalyst,” with a potential increase of payout ahead, the analyst tells investors in a research note.