SBM Offshore : The FPSO market seems to be getting its head back above water
>Neutral rating maintained - The H1 2018 results came out better than expected, upholding our view that the group will be able to meet its 2018 targets. Our sentiment is that market trends are improving for the future, which also applies to the sector’s other companies. Although the stock has underperformed year-to-date, we think it offers no upside and we therefore reiterate our Neutral rating and target price. We have adjusted our earnings sequence marginally post-r...SBM Offshore is a holding company. Co. provides floating production solutions to the offshore energy industry, over the full product life-cycle. Co.'s main activities are the design, supply, installation, operation and life extension of floating production, storage and offloading (FPSO) vessels. Other products include semi-submersibles, tension-leg platforms, floating production storage and offloading liquefied natural gas, turret mooring systems, brownfield and offshore (off) loading terminals. As of Dec 31 2015, Co.'s fleet consisted of 10 FPSOs, two floating storage and offloadings, one mobile offshore production unit, one semisubmersible in operation worldwide.
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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