Saipem SpA
SPM: XMIL (ITA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€8.80 | Xprk | Vvjrshd |
Improving Offshore Activity Supports Strong Sequential Revenue Growth in Saipem’s Second Quarter
Saipem had a strong second quarter, posting sequential revenue growth of 22% and an EBITDA margin of 7%. After incorporating the results, we’re maintaining our fair value estimate. Our no-moat rating, stable moat trend, and Morningstar Uncertainty Rating of Very High are unchanged.