Report
Baptiste Lebacq

Subsea 7 : Reassuring message and risk in the medium term of deficit rigid pipelay assets

>Buy rating, target price of NOK 145 - We maintain our Buy recommendation on the stock (target price of NOK 145). We continue to favour the offshore segment where investment decisions should continue to pursue their acceleration. The group underscored for the first time that there is a risk of a shortage of some asset categories like those linked to pipelay out to 2022-2023. The joint venture with Schlumberger is becoming a benchmark player for oil companies and Subse...
Underlying
Subsea 7 S.A.

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Baptiste Lebacq

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