It's a nightmare Monday in Piazza Affari for the title Saipem, which at the end of the morning came to lose 6,9%, to 7,43 euros, after a passage in the volatility auction due to an excess of downwards. That of the plant engineering company of the Eni group is the worst performance of the entire Ftse Mib. Two factors in particular affect the performance of the stock: oil and the opinions of the brokers.
In fact, Saipem shares underwent some downgrades today: Canaccord Genuity cut the rating to "sell", with a target price of 7,5 euro, while Barclays reduced the target price from 20 to 12 euro, with an "equal weight" rating ”.
As for the decline in crude oil, prices are back to their lowest since 2009, with Brent futures down 2,65%, to 48,78 dollars a barrel, after Goldman Sachs cut its 2015 estimates to 50,40 dollars from 83,75.
