Barclays ups Viridien to 'equal-weight', shares rise

Maire SpA

24/03/2025 09:08

March 24 (Reuters) - ** Shares in Viridien VIRI.PA rise 2.2%, bringing year-to-date gains above 50%, after Barclays upgrades its rating on the geophysical services company to "equal-weight" from "underweight", citing an improving business and increased earnings visibility

** "With its US $1.1bn refinancing, a key risk around Viridien has been removed, giving a runway to 2030 for debt to come down sharply," Barclays analysts say

** The broker also points to the company's strong cash generation and decreased earnings volatility, supported by the contribution of its Geoscience unit

** Among 8 analysts covering the stock, 5 rate it "buy" or "strong buy", 2 "hold" and 1 "sell"

** Barclays also downgrades SBM Offshore SBMO.AS to "equal-weight" from "overweight" and Italy's Maire MTCM.MI, to "underweight" from "equal-weight" taking into account their relative performance to peers and a lack of near-term catalysts

 (Reporting by Alban Kacher)

 ((alban.kacher@thomsonreuters.com ; +48 58 769 65 87))