Bernstein raises target for Saipem stock to EUR 5.44

Published on 10/13/2026 at 13:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Saipem publishes third-quarter results on November 18, 2026. Saipem stock costs EUR 4.67 on October 13, 2026, up 0.43 percent on the day in Milan.

On October 9, 2026, Bernstein lifted its Saipem target from EUR 4.96 to EUR 5.44 and kept an Outperform rating.
Saipem's third-quarter 2026 results and 2027 guidance are scheduled for November 18, 2026.
Saipem stock costs EUR 4.67 in Milan on October 13, 2026 at 1:12 p.m. CEST, plus 0.43 percent versus the Milan close of October 12, 2026.
Saipem's price-to-earnings ratio is 34.17 and its market capitalization is EUR 9.1 billion.

Saipem, IT0000068525, Illustration mit AI erstellt.

Bernstein raised its Saipem target from EUR 4.96 to EUR 5.44 on October 9, 2026, while keeping an Outperform rating, Teleborsa reported. Saipem was trading at EUR 4.67 on Borsa Italiana on October 13, 2026 at 1:12 p.m. CEST, up 0.43 percent versus the Milan close of October 12, 2026 at EUR 4.65.

Results date moves into November

Saipem will publish its consolidated third-quarter 2026 results on November 18, 2026, together with its 2027 market guidance. The conference call is scheduled for November 19, 2026, according to Saipem.

The November date gives the upcoming report a clear valuation role: Bernstein's EUR 5.44 target stands EUR 0.77 above the October 13 price. That is 16.49 percent upside from the Milan quote, calculated in the same currency.

Stock stays below its yearly high

The share price ranged from EUR 4.62 to EUR 4.70 during the October 13 session, with 3,778,502 shares traded by the recorded quote time. Its 52-week range was EUR 2.17 to EUR 4.85, leaving the stock 3.71 percent below the high.

The range puts the current quotation near the upper end of its yearly band, while the daily move remains below the 1.00 percent threshold commonly used to describe a directional session. The immediate market question is whether the November report can support the target expectations already reflected in the valuation.

Valuation and peer comparison

Saipem's market capitalization was EUR 9.1 billion on October 13, 2026, and its price-to-earnings ratio was 34.17. The comparison with other energy-service companies shows a higher multiple for Saipem than for Tenaris and Subsea 7, although the companies trade in different currencies and markets.

Comparison with peers

Saipem (Milan, EUR): plus 0.43 percent, price-to-earnings ratio 34.17, market capitalization EUR 9.1 billion

Tenaris (Milan, EUR): plus 0.42 percent, price-to-earnings ratio 15.60, market capitalization EUR 26.3 billion

Subsea 7 (Oslo, NOK): plus 0.94 percent, price-to-earnings ratio 17.51, market capitalization NOK 101.9 billion

What the November date means

The November 18 release is the next scheduled company event, while the EUR 5.44 target provides the clearest external valuation marker in the current market picture. Saipem's price-to-earnings ratio of 34.17 is more than twice Tenaris's 15.60, so the results and 2027 guidance will matter for whether the valuation gap persists.

Price and market context

Saipem was trading at EUR 4.67 on Borsa Italiana on October 13, 2026 at 1:12 p.m. CEST, plus 0.43 percent versus the Milan close of October 12, 2026 at EUR 4.65.