In a report released yesterday, Guillaume Delaby from Bernstein maintained a Buy rating on Subsea 7, with a price target of NOK240.00.
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Guillaume Delaby has given his Buy rating due to a combination of factors including the strategic financial improvements and potential future growth of Subsea 7. The company is expected to benefit from a lower net debt forecast for FY25 and an increase in projected EBITDA by FY28, which enhances its financial stability and growth prospects.
Additionally, the proposed merger with Saipem is seen as a strategic move that could lead to significant cost synergies, positioning Subsea 7 favorably in the industry. Despite a current trading discount, the potential for improved financial performance and attractive dividend payments make Subsea 7 an appealing investment opportunity.
According to TipRanks, Delaby is a 3-star analyst with an average return of 7.1% and a 54.32% success rate. Delaby covers the Energy sector, focusing on stocks such as TechnipFMC, Schlumberger, and Tenaris SA.
In another report released on September 2, Kepler Capital also maintained a Buy rating on the stock with a NOK330.00 price target.