Subsea 7 SA
SUBC: XOSL (NOR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
NOK 929.00 | Fky | Dmzkwmszf |
Elevated Demand for Offshore Services Likely To Persist Into 2025; Raising Subsea 7’s FVE to NOK 153
Subsea 7 concluded 2022 on solid footing as annual revenue and adjusted EBITDA increased 3% and 7%, respectively. Offshore production activity has started to pick up speed around the world and will likely continue to gain momentum over the next several quarters. We’re raising our fair value estimate to NOK 153 per share from NOK 136 following results. We maintain our no-moat rating.