DnB Markets - Borr Drilling (BORR) Borr Drilling (No_rec, TP: NOK) - Recommendation and target price withdrawn

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DnB Markets

Martin Huseby Karlsen

EUR 88.04 For Business Accounts Only

Borr Drilling (No_rec, TP: NOK) - Recommendation and target price withdrawn

Given DNB Markets acted as Joint Bookrunner in the recent Private Placement in Borr Drilling and is acting as Joint Bookrunner in the bond issue, we have withdrawn our target price and recommendation on Borr Drilling.

24/10/2023 1 EN

Underlying

Borr Drilling

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BMG1466R2078 Oslo Bors Bermuda

Provider

DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

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Analysts

Martin Huseby Karlsen

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Borr Drilling (No_rec, TP: NOK) - Recommendation and target price withdrawn

Needs to lock in 2026

Another round of Aramco suspensions expected

Muted 2025 growth expectations

Airthings (No_rec, TP: NOK) - Recommendation and target price withdrawn

SpareBank 1 Helgeland (Hold, TP: NOK167.00) - Softer margin, but lower costs

Smartoptics (Buy, TP: NOK27.00) - We remain optimistic

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