reports
- Martin Huseby Karlsen
- Martin Huseby Karlsen
Petrobras FPSO delays may hit service volumes but lengthen cycle
Being the largest global consumer of deepwater oil services, Petrobras’ strategic plans tend to get investor attention. On the positive side, its latest 5-year plan sees 5% higher E&P spending than the previous one, and has a more stable phasing between the years, which is supportive for the cycle duration. However, several FPSOs are facing significant delays, which is on the downside for oil services, leading to delays for deepwater oilfield services (primarily drilling and subsea), likely resu...
SDRL SEADRILL LTD
ARCHERO ARCHER
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
BWO BW OFFSHORE LIMITED
BORR BORR DRILLING
SHLF SHELF DRILLING LTD.
VAL VALARIS LTD
NE NOBLE CORP NEW
OTL ODFJELL TECHNOLOGY LTD
SDNS SHELF DRILLING NORTH SEA
DDRIL DOLPHIN DRILLING
DOFG DOF GROUP ASA
VTURA VENTURA OFFSHORE
PLSV PARATUS ENERGY SERVICES LTD.
Grant of Restricted Stock Units and Warrants to Employees in Genmab
Grant of Restricted Stock Units and Warrants to Employees in Genmab Company Announcement COPENHAGEN, Denmark; November 21, 2024 – (Nasdaq: GMAB) announced today that the Board decided to grant 10,273 restricted stock units and 10,853 warrants to employees of the Company and the Company's subsidiaries. Each restricted stock unit is awarded cost-free and provides the owner with a conditional right to receive one share in Genmab A/S of nominally DKK 1. The fair value of each restricted stock unit is equal to the closing market price on the date of grant of one Genmab A/S share, DKK 1,447.50...
- Geir Hiller Holom
PhotoCure (Buy, TP: NOK84.00) - Set to meet 2024 targets
Q3 revenues were NOK120.2m (up 12% YOY) and EBITDA was NOK5m (Q3 2023 NOK3.3m). We still expect the company to meet its financial targets for 2024, and have largely maintained our 2024–2028e EPS. We have removed future potential Asieris milestone payments from our estimates, now viewing this as upside potential to our base case. Following a change of analyst, we have cut our target price to NOK84 (87), but reiterate our BUY as we continue to find the valuation attractive.
Notification of transaction by a closely associated person of a Direct...
Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Notification of transaction by a closely associated person of a Director of Millicom (Tigo) Luxembourg, November 13, 2024 – International Cellular S.A. ("Millicom") announces that, on November 7, 2024, Atlas Luxco S.à r.l. (”Atlas”) a person closely associated (”PCA”) with Jules Niel, a member of Millicom’s Board of Directors, acquired 40,089 Millicom Swedish Depository Receipts (SDRs) in the open market at an average price of SEK 280.4 per share (the “Acquisition”). The Acquisition by Atl...
- Stefan Gauffin
Notification of share transaction by Director of Millicom (Tigo) share...
Notification of share transaction by Director of Millicom (Tigo) shares Notification of share transaction by Director of Millicom (Tigo) shares Luxembourg, November 8, 2024 – International Cellular S.A. ("Millicom") announces that, on November 8, 2024, Tomas Eliasson, Director of Millicom, sold 17,269 Millicom Swedish Depository Receipts (SDRs) in the open market at an average price of SEK 289.19 per share. Mr. Eliasson now directly owns no shares. Details of the transaction are disclosed on Millicom’s . For further information, please contact: Press: Sofía Co...
- Martin Huseby Karlsen
- Martin Huseby Karlsen
Valaris (Buy, TP: USD70.00) - Patience remains key
With deepwater uncertainty and idle time extending well into 2026, consensus looks (far) too optimistic to us (we are 21% below on both 2025–2026e EBITDA). Jackup market headwinds have also made us lower our dayrate expectations, and we see a risk of fewer of its rigs working in Saudi Arabia in 2025–2026. With the cash-flow story still on the horizon, we believe focus should be on 2026 and beyond, helping to close the NAV gap and intrinsic value to crystallise. We reiterate our BUY but have cut ...
- ABGSC Services Research
- Stefan Knutsson
Millicom (Tigo) Q3 2024 Earnings Release
Millicom (Tigo) Q3 2024 Earnings Release Millicom (Tigo) Q3 2024 Earnings Release Luxembourg, November 7, 2024 – is pleased to announce its third quarter 2024 results. Please find below links to the Q3 2024 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements. Highlights* Revenue $1.43 billion up 0.5% - Service Revenue up 1.8% (2.4% organically) Robust commercial activity: 299,000 Postpaid Mobile and 68,000 Home FTTH/HFC net additionsOperating profit $300 million, up 43.1% EBITDA $585 million, up 9.8% Net income $51 million ($0.30 per share)Equity free cash...
- Karl-Johan Bonnevier
Securitas (Buy, TP: SEK175.00) - Another step in the right direction
Securitas’s Q3 was strong, with Europe and IberoAmerica improving and the US remaining solid. FCF generation was much-improved, accelerating the balance sheet de-gearing. We have tweaked our forecasts post-Q3. We still see a solid transformation case, as the journey towards the 8% profit margin target by end-2025 (LTM 6.8%) continues. We reiterate our BUY and have raised our target price to SEK175 (160).
- Rune Majlund Dahl
Genmab (Buy, TP: DKK2500.00) - Still awaiting CD-38 decision
Q3 revenue missed our expectations, but operating profit exceeded due to lower operating costs. 2024 guidance for revenue was raised to DKK21.1bn–21.7bn; for opex was narrowed downwards to DKK14.1bn–14.4bn (due to portfolio prioritisation); and for operating profit, narrowed to the high end of DKK6.2bn–7.1bn. Investor focus was on JNJ’s upcoming opt-in decision (data submission expected end-2024). We reiterate our BUY and DKK2,500 target price.
Genmab Announces Financial Results for the First Nine Months of 2024
Genmab Announces Financial Results for the First Nine Months of 2024 November 6, 2024 Copenhagen, Denmark; Interim Report for the First Nine Months Ended September 30, 2024 Highlights European Commission (EC) granted conditional marketing authorization for TEPKINLY® (epcoritamab) as a monotherapy for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL) after two or more lines of systemic therapyGenmab announced that it will assume sole responsibility for the continued development and potential commercialization of acasunlimabGenmab revenue increased 29% com...
- ABGSC Services Research
- Stefan Knutsson
Genmab to Present at Jefferies London Healthcare Conference
Genmab to Present at Jefferies London Healthcare Conference Media ReleaseCOPENHAGEN, Denmark; November 5, 2024 (Nasdaq: GMAB) announced today that its Chief Executive Officer, Jan van de Winkel, Ph.D. and Chief Financial Officer, Anthony Pagano will take part in a fireside chat at the Jefferies London Healthcare Conference on November 19, 2024 at 4:30 PM CET / 10:30 AM EST. A webcast of the event will be available on Genmab’s website at . About Genmab Genmab is an international biotechnology company with a core purpose of guiding its unstoppable team to strive toward improving...
Genmab to Showcase Strength and Breadth of Comprehensive Epcoritamab-b...
Genmab to Showcase Strength and Breadth of Comprehensive Epcoritamab-bysp Development Program at 2024 American Society of Hematology (ASH) Annual Meeting Media ReleaseCOPENHAGEN, Denmark; November 5, 2024 More than 20 abstracts, including four oral presentations, with new clinical data across lines of therapy and subgroups of non-Hodgkin’s lymphoma (NHL) patientsNew and updated data from EPCORE® clinical trial program reinforce the potential of epcoritamab as a monotherapy and in combination to treat multiple B-cell malignancies across lines of therapy (Nasdaq: GMAB) announced today more...
- Martin Huseby Karlsen
- ABGSC Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Stian Wibstad
- Stefan Gauffin
Millicom (Buy, TP: SEK330.00) - Towers sale outweighs FX impact
Large negative FX movements and one-off costs mean we are slightly below September consensus ahead of the Q3 results (due at 12:00 CET on 7 November). We like the company’s profitability transformation and reiterate our BUY, having raised our target price to SEK330 (310).
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