Petrofac : A year of transition on the cards
>Neutral recommendation maintained (target price 383p) - We are maintaining our Neutral recommendation with an unchanged target price of 383p. 2020 is set to be a year of transition in terms of earnings. The Serious Fraud Office's investigation is a real stumbling-block to a fast pick-up in order intake and, by extension, future earnings. The group's goal of taking a position in renewable energies via offshore wind farms might be at greater risk than for peers, given ...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.
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.
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