Subsea 7 : Set for an acceleration in the order intake
>Outperform rating maintained, target price of NOK 110 - We maintain our Outperform recommendation on the stock (target price of NOK 110). Following the Q21 2021 earnings release and the conference call, we revised up our 2021-2023 EBITDA sequence by an average of 5% (the impact is greater at the EPS level given lower taxation over the sequence). The share in our view continues to be the best placed to take advantage of the acceleration in investment in offshor...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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