Eneti Inc - Initiation of coverage - Benefiting from green tailwinds
Having transformed from a dry bulk to an offshore wind service company, Eneti Inc looks set to benefit from the significant growth expected in the offshore wind industry. After the acquisition and successful integration of the Seajacks operational platform, its two newbuilds look well placed to secure contracts upon delivery in 2024–2025. We initiate coverage with a BUY and USD11 target price.
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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