Odfjell Technology (Buy, TP: NOK70.00) - Looking for H2 2025 growth
While the stock is attractively valued, we believe the company must create confidence in future growth and bring capex back to normalised levels for the investment case and upside potential to fully unfold. Management was optimistic that the activity uptick and cost cutting will progress in late 2025, helping H2 EBITDA. We see further growth for 2026e from its recently announced powered drill pipe contract. We estimate an equity cash flow yield potential of c12% in 2025, increasing to 17% in 2026. We reiterate our BUY and NOK70 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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.