Kepler Cheuvreux upgrades SBO to 'hold' on fair valuation, reduced Iran war risk

SBO AG

06/07/2026 12:01

** Kepler Cheuvreux upgrades oil services and equipment provider SBO SBOE.VI to "hold" from "reduce" as the share price now matches the broker's valuation after having fallen since April
** "It's clearly too early to be positive on the name, but the current share price fairly values the story in our view," KC says, anticipating a stronger second half of the year
** Shares in the Austrian company have lost around 18% in value since April 2
** It sees impacts from the Iran war to weigh on Q2 earnings but pose less of a short-term risk going forward
** The broker projects full-year EBITDA at €65 million ($74.22 million), notes it "cannot exclude" the possibility of a slight cut to dividend
** Maintains target price at €29 per share
** Out of 5 analysts covering SBO, three rate the stock "strong buy" or "buy", ​two rate "hold" and no analysts rate the stock "strong sell" or "sell" - LSEG data

($1 = 0.8757 euros)

 (Reporting by Danny Callaghan)
 ((danny.callaghan@thomsonreuters.com))