Bernstein raises target for Saipem stock from EUR 4.96 to EUR 5.44

Published on 10/16/2026 at 09:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half 2026 revenue reached EUR 3.8 billion, up 3.40 percent year over year. Saipem stock faces the next results on November 18, 2026.

Analyst target and reporting dates

Bernstein lifted its Saipem target from EUR 4.96 to EUR 5.44 on October 9, 2026.
First-half 2026 revenue reached EUR 3.8 billion, up 3.40 percent year over year.
Saipem will approve third-quarter 2026 results on November 18, 2026.

Saipem, IT0000068525, Illustration mit AI erstellt.

Saipem (ISIN IT0000068525) received a higher Bernstein valuation on October 9, 2026, with the target rising from EUR 4.96 to EUR 5.44. The change came as investors prepared for the company's third-quarter results and updated 2027 guidance.

According to Repubblica on October 9, Bernstein confirmed its Outperform recommendation while increasing the target to EUR 5.44. The higher target provides a concrete benchmark for the stock ahead of the next operating update.

First-half figures set the test

Saipem reported first-half 2026 revenue of EUR 3.8 billion, an increase of 3.40 percent from the first half of 2025, according to Investire Certificati. Adjusted EBITDA reached EUR 402.0 million, while the adjusted EBITDA margin was 10.50 percent.

The same report put first-half order intake at EUR 4.1 billion and free cash flow at EUR 189.0 million. It also cited EUR 70.0 million of additional costs linked directly to the conflict in the Middle East, making execution and margin resilience important issues for the next report.

What are the next dated events?

Saipem's recent chronology includes a USD 350.0 million offshore contract in Angola announced on September 14, 2026, the amended reporting calendar published on September 23, 2026, and Bernstein's EUR 5.44 target dated October 9, 2026. The contract was listed on Saipem's investor page, while the calendar amendment was detailed in an official Saipem release.

The next reporting date is November 18, 2026, when the board is scheduled to approve consolidated results through September 30, 2026. The conference call covering those results and 2027 guidance is scheduled for November 19, 2026, according to the same company release.

Stock context for investors

Saipem's market capitalization was EUR 9.0 billion on October 14, 2026, while its 52-week range was EUR 2.17 to EUR 4.85. The stock was last quoted at EUR 4.51 on the Milan Stock Exchange on October 16, 2026 at 9:31 a.m. CEST. The target increase and the upcoming results place operating margins and guidance at the center of the next valuation discussion.