Petrofac : H1 2024 results still lacklustre, progress on the financial restructuring front
>Neutral rating, target price under review - We reiterate our Neutral recommendation on the stock, with a target price under review pending the terms of the future financial restructuring (conversion of debt into equity, capital increase, etc.). In our sample, there are still many other investment vehicles with far more solid fundamentals (and balance sheets): Technip-Energies (Outperform, target price $ 27) for exposure to the LNG theme, or TechnipFMC (Outperform, ta...Petrofac is a holding company. Co. is engaged as a service provider to the oil and gas production and processing industry. Co. designs, builds, operates and maintains oil and gas facilities. Co. has three segments: Engineering & Construction, which provides engineering, procurement and construction project execution services to the onshore and offshore oil and gas industry; Engineering & Production Services, which includes engineering and production services activities to the oil and gas industry; and Integrated Energy Services, which provides an integrated service for clients, with projects that cover upstream developments project, related energy infrastructure projects, and investment.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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