Subsea 7 : Level of bid tenders 20% above the pre-Covid level
>Outperform recommendation (target price NOK 100) - We are maintaining our Outperform recommendation on the stock (target price of NOK 100). Following the publication and conference call, we have adjusted our forecast for EBITDA down by 3% for 2021-2023. The group’s positioning should also enable it to take advantage of both 1/ the acceleration in order intake in traditional offshore and 2/ orders also anticipated for wind farms. Subsea 7 remains, in our view, the gro...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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