Subsea 7 : Greenfield projects provide support for 2019
>Buy recommendation maintained - We maintain our positive opinion on the share, whose 100% positioning in the subsea business should result in an acceleration in the order intake over the coming quarters. We have revised our scenario for margin growth and tax. All told, we have lowered our EBITDA estimate for 2019 by just 6.9%, with EPS more affected by the tax rate. Subsea 7 remains our Top Pick in the sector in order to play the offshore recovery and the resulting ...Subsea 7 is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. Co. provides products and services required for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore. Co. also provides products and capabilities to deliver full Life of Field services to its clients. Through its i-Tech Division, Co. provides remotely operated vehicles and tooling services to support exploration, production and drilling activities.
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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