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.
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