29 Sep 2016

First signs of stabilisation in O&G outlook

- Alastair Stewart
- 4 pages

Northbridge has given the first indication that the deterioration in conditions in its oil & gas markets appears to be levelling off and the electrical testing and O&G tool hire company is “now more optimistic about the longer term future”. H1 results were in line with our estimates made following the 1 August trading update and we are not changing our forecasts for FY 2016 and 2017. At a 2017 EV/EBITDA of 4.4x, we believe the shares look attractive, given that the newsflo ....

Sign up to access

Get access to our full offering from over 30 providers

First signs of stabilisation in O&G outlook

Published: 29 Sep 2016
Author: Alastair Stewart
Pages: 4

Northbridge has given the first indication that the deterioration in conditions in its oil & gas markets appears to be levelling off and the electrical testing and O&G tool hire company is “now more optimistic about the longer term future”. H1 results were in line with our estimates made following the 1 August trading update and we are not changing our forecasts for FY 2016 and 2017. At a 2017 EV/EBITDA of 4.4x, we believe the shares look attractive, given that the newsflo ....