Saipem : Retour symbolique à l’actionnaire, une première depuis 2013
>Recommandation Alléger inchangée (OC 4.2 €) - Nous maintenons notre recommandation Alléger sur le titre. Nous avons ajusté légèrement à la baisse notre séquence de BPA afin d’intégrer une remontée plus lente qu’initialement escompté de la contribution du forage et d’une fiscalité un peu supérieure. Nous maintenons notre OC inchangé. En effet, l’incidence de la variation de nos nouvelles estimations sur l’opérationnel est compensée par la baisse plus rapide de la...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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