Subsea 7 : The stars are aligning
>Outperform recommendation reiterated with an unchanged target price of NOK 110 - We maintain our Outperform recommendation on Subsea 7. The positioning on renewable energies is bearing fruit with, besides the exposure to offshore wind, a contract relating to CCS technology. The announcement of the payment of an exceptional dividend of NOK 2 is admittedly symbolic, but more importantly it underlines the group’s solid financial situation. EBITDA beat and p...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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