Report
Saipem : A 2024-2027 plan focussed on shareholder returns
>Neutral recommendation and target price raised to € 1.65 - Following the publication (cf. our first take of 28 February 2024 for more details) and the conference call, we have revised up our forecasts for 2024-2026 EBITDA by an average of 25% to factor in a scenario of stronger-than-anticipated margin growth. Our target price is based on an SOP approach to which we have applied a discount of 40% to factor in the risk that is still present on legacy contracts. This re...
Underlying
SAIPEM S.P.A.
Provider
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.
Baptiste Lebacq
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