Saipem SpA

SPM: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€9.80	Ldqq	Hhfswyt

Saipem's Third-Quarter Results Driven by Accelerating Investment in Offshore Oil and Gas Production

Katherine Olexa

Oct 28, 2022

Saipem posted solid results in its third quarter as investment in offshore oil and gas production gains momentum around the world. We’re slightly raising our fair value estimate to EUR 2 per share following the results. Our no-moat rating, stable moat trend rating, and Morningstar Uncertainty Rating of Very High are unchanged.

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