Report
Baptiste Lebacq

Petrofac : Trading Statement: good news on the net debt front

>Neutral recommendation maintained, target price raised to 520p - We are sticking with our Neutral recommendation and have raised our forecasts for EPS in light of a trading statement issued by the group. Following these adjustments, we have raised our target price 520p (a 15% discount on our SOTP to factor in the SFO (serious fraud office) risk, which implicitly appears to integrate a $ 350m fine). The group is still positioned on markets in which, for the time...
Underlying
Petrofac Limited

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.

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
Baptiste Lebacq

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