Tenaris SA ADR

TS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$64.00	Sxbh	Czvrfbg

Tenaris Earnings: Increasing Offshore Drilling Promises a Strong 2024 for Tenaris

Travis Miller ,

Feb 25, 2024

We maintain our $37 fair value estimate of no-moat Tenaris after the company closed 2023 with a robust fourth quarter.

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