Subsea 7 : Strategy in renewable energy validated, still moving towards a re-rating
>Buy recommendation maintained, target price raised to NOK 85 - Beyond adjusted earnings that beat forecasts, this publication has above all emphasised the group’s positioning in the offshore wind market. As such, the renewable energy activity now represents more than 30% of the order book. We have adjusted our forecasts (primarily to factor in numerous exceptional elements: impairments, restructuring charges, etc.). All told, our investment case remains intact and we...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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