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
29 Sep 2016
First signs of stabilisation in O&G outlook
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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