Saipem SpA
SPM: XMIL (ITA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€6.80 | Hgmbq | Xzvbcfklm |
Saipem Earnings: Continued Progress on Improving Margins and Cash Flow
No-moat Saipem’s first-quarter results showed continued progress in improving margins and cash flow, in line with its 2024 targets. After incorporating the results into our model, we leave our EUR 2.50 fair value estimate unchanged. We view shares as slightly undervalued.