Subsea 7 : Going green …at a price
>Buy rating maintained - We are maintaining our Buy rating on the stock. Subsea 7 remains the most advanced and best positioned player in the renewables market thanks to the offshore wind segment. With clearly very robust top-line momentum in this market, it looks set to flesh out its fleet but keep costs down (by converting a vessel already in its portfolio). Markets-wise, Subsea 7 is substantially outperforming its peers in the E&C segment (YtD performance of -...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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