Subsea 7 : Le retour à l’actionnaire reste la priorité
>Opinion Achat avec un OC 145 NOK maintenue - Nous maintenons notre opinion Achat sur le titre avec un objectif de 145 NOK. Post publication, nous avons ajusté notre séquence de BPA essentiellement en dessous de l’EBITDA afin d’intégrer notamment une charge d’impôt plus élevée qu’initialement escompté ainsi que les effets du nouveau programme de rachats d’actions. Notre objectif de cours reste inchangé et basé un multiple d’EBITDA 12M fwd de 6x. Subsea 7 reste notre t...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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