Jefferies analyst Jamie Franklin upgraded Tenaris (TS) to Buy from Hold with a price target of $47, up from $35. Tenaris has rallied post-U.S. Election, but the firm sees further value. In its Q3 preview, Jefferies viewed potential for upside to consensus in 2025, and now it is raising FY25 EBITDA by 7% to $3B on its higher U.S. pricing assumptions.
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