Jefferies upgrades Aker Solutions to 'neutral' on 'de-risked' outlook
26/04/2024 13:49
** Jefferies upgrades Aker Solutions ASA AKSOA.OL to "neutral"
from "underweight", saying the Norwegian oil service's full-year
guidance is de-risked
** The broker points to high activity and strong inflection
in margins in the Renewables and Field Development segment as a
key factor for a strong outlook
** "Management noted that guidance in Q4'23 was also
potentially conservative", the broker notes
** It also sees potential for additional shareholder returns
in Q4 due to cash inflow from the sale of the Subsea business
** The broker lifts TP to NOK 46, "implying about 15% upside
potential"
** Out of 14 analysts covering Aker Solutions, six rate the
stock "hold" and eight "buy" or "strong buy"
(Reporting by Anna Chaberska)
((Anna.chaberska@thomsonreuters.com))