Tenaris Loses Its Shine
Tenaris S.A.’s (T.S.) operating margin can get unfavorably affected in the short-term due to higher steel prices and other costs. I think offshore project deferrals, some uncertainties over the political developments in Latin America, and the low OCTG demand environment can derail the company’s turnaround. I also think the stock price does not have enough momentum in the short-term. Recently, the issue of corporate governance has weighed on the company’s share price. On February 14, an Italian court moved an investigation against T.S. to trial. The investigation related to alleged improper