Morgan Stanley raised the firm’s price target on Tenaris (TS) to $50 from $40 and keeps an Underweight rating on the shares. Beyond the Middle East disruption, the firm expects higher oil prices to be supportive of increased upstream capital spending, says the analyst, who notes that the firm’s 2027/2028 EBITDA estimates are now about 6% above consensus on average for the firm’s energy services and equipment coverage.
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Read More on TS:
- Tenaris price target raised to $56 from $42 at Piper Sandler
- Tenaris Sets May 12, 2026 Shareholder Meetings and Plans Capital Reduction via Treasury Share Cancellation
- Tenaris Files 2025 Annual Report with SEC and Luxembourg Stock Exchange
- Tenaris Files 2025 Annual Report and Form 20-F with Global Regulators
- Tenaris price target raised to $60 from $59 at TD Cowen