Bernstein starts coverage of Tenaris and Vallourec in 'Age of Maturity'

** Bernstein initiates coverage of steel pipe producers Tenaris TEN and Vallourec VK as both cos were labelled as in "Age of Maturity", leaving them open to speculation on their future development

** The broker's category deems experienced companies as successful, and Tenaris and Vallourec, 80 and 126 years respectively, were awarded (O, PT €21.0) and (O, PT €22.6) respective ratings at Outperform

** Bernstein considers the "Age of Maturity" category by measuring factors such as capability of management, net cash positions and visibility on future cash flows

** Shares of Italy's Tenaris were up 0.3% to €15.97 at 10:32 GMT, while shares of France's Vallourec were up 0.4% to €16.73

** Out of 13 analysts that cover Tenaris, seven rate the stock "strong buy" or "buy,"​ three rate "hold" and three​ rate the stock "strong sell" or "sell," according to LSEG data

** Out of 10 analysts that cover Vallourec, seven rate the stock "strong buy" or "buy," ​three rate "hold," according to LSEG data