Saipem : A little patience
>Underperform rating maintained - The group presented yesterday its definitive 2022 results (it had announced the main items at the end of February) and more importantly the terms and conditions of its refinancing, which will be carried out via a capital increase guaranteed by its shareholders and banks. We maintain our Underperform rating on the stock and have factored in the first information on the refinancing. At this stage of the new super cycle exacerbated by t...Saipem is a global contractor with local presence in Africa, Central Asia, America, the Middle East and South East Asia. Co. provides engineering, procurement, construction and installation services; and engineering, procurement and construction services to the oil and gas industry, both onshore and offshore, with a focus on projects, including activities in remote areas, in deep waters and on projects that involve difficult gas or crude supplies.
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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