Morgan Stanley analyst Guilherme Levy raised the firm’s price target on Subsea 7 (SUBCY) to NOK 240 from NOK 235 and keeps an Overweight rating on the shares. The firm says Saipem and Subsea 7 remain its preferred picks to play European energy services in 2025. Subsea 7 has lagged peers recently, despite benefitting from similar trends, and is now Morgan Stanley’s new top pick for the coming months, in place of Saipem, the analyst tells investors in a research note.
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