---
title: "Tenaris upgraded at Morgan Stanley on improving OCTG industry fundamentals"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292808820.md"
description: "Morgan Stanley upgraded Tenaris (TS) to Equal Weight from Underweight, raising its price target to $65 from $53. The upgrade cites improving OCTG industry fundamentals, driven by declining imports and rising demand that are tightening inventories and supporting ~10% YTD pricing gains. Analysts expect 2027-28 EBITDA estimates to exceed consensus due to better pricing and Middle East infrastructure recovery. Additionally, Tenaris' strong $3B net cash position supports potential dividend growth and a new buyback program."
datetime: "2026-07-15T19:41:54.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292808820.md)
  - [en](https://longbridge.com/en/news/292808820.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292808820.md)
---

# Tenaris upgraded at Morgan Stanley on improving OCTG industry fundamentals


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