2024-07-18 13:20:28 ET
Summary
- Tenaris is a top player in the energy servicing sector, controlling nearly half of the global OCTG market.
- Italy-based with listings in Milan and NYSE, making it an attractive European investment potential.
- Rig Direct program enhances customer relationships and production efficiency, adding considerable value to the company.
Dear readers/followers,
It's time for a new update on Tenaris ( TNRSF ). The company was a solid play about a year ago, and I've been updating it for a bit over 1.5 years. I bought stakes both during late 2023, as well as during the dip about a month back. There's upside to be had, despite the company's relatively flat growth outlook for 2024 and 2025. In fact, in a relatively recent article of mine, I provided an update on Tenaris for 2025E, and went to a "BUY" from "HOLD".
A request for an update has caused me however to write this article because Tenaris has started to appreciate - up around 3%, with the market up 3.8%. You can find my latest article for the native NYSE ticker here ....
Read the full article on Seeking Alpha
For further details see:
Tenaris: Up And Down We Go - And Now A Buy