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UPDATE: Dahlman Rose Downgrades Tenaris to Hold on Valuation

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Dahlman Rose downgraded Tenaris (NYSE: TS) from Buy to Hold.

Dahlman Rose commented, "We are downgrading Tenaris to Hold from Buy. TS is trading within 12% of our fair value estimate of $45 per share. We do not see material upside to growth or margins due to the decline in North American OCTG prices over the past nine months and see 2013 as a transition year for the company."

Tenaris closed at $40.06 on Friday.

Latest Ratings for TS

DateFirmActionFromTo
Apr 2016CitigroupUpgradesSellNeutral
Apr 2016Morgan StanleyMaintainsUnderweight
Feb 2016Credit SuisseUpgradesUnderperformNeutral

View More Analyst Ratings for TS
View the Latest Analyst Ratings

Posted-In: Dahlman RoseAnalyst Color Downgrades Analyst Ratings

 

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