Subsea 7 : Energy security to also materialise through offshore and therefore Subsea 7
>Outperform rating maintained and target price raised to NOK 140 - Following the Q3 2022 results publication and the conference call, we have lifted our estimates for 2022 and left our forecasts beyond this unchanged. We think that the group is well positioned to surf on the future ramp-up in offshore capex (we forecast average annual market growth of +9% for 2021-2025e as well as in investment in renewables in Europe to reduce its dependence on Russian gas in th...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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