Report
Thijs Berkelder

Fugro : Delivery on cost savings provides solid starting point for next upcycle

Assuming that Fugro as from Q4 2026 will start to benefit from North Sea governments preparing for their 15 GW 2031 commitment (electrons in 2031 = turbines in 2030 = monopiles in 2029 = FIDs in 2028 = government tenders in 2027), we reiterate our Outperform recommendation and TP of € 15 per share.
Underlying
FUGRO NV

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Thijs Berkelder

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