The electrical and oil & gas (O&G) tools group isseeing previous improvements in customer sentiment feeding through to activity, with drilling tool rentals an early beneficiary. We maintain our headline EBITDA estimates for FY 2018 and 2019 but have trimmed our forecast loss before tax for the current year due to a reduced depreciation charge. We have introduced a FY 2020 forecast, in which we see positive earnings. We have raised our TP from 123p to 153p – 15% upside – an
27 Sep 2018
Warmer O&G climate feeding into activity
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Warmer O&G climate feeding into activity
- Published:
27 Sep 2018 -
Author:
Alastair Stewart -
Pages:
10
The electrical and oil & gas (O&G) tools group isseeing previous improvements in customer sentiment feeding through to activity, with drilling tool rentals an early beneficiary. We maintain our headline EBITDA estimates for FY 2018 and 2019 but have trimmed our forecast loss before tax for the current year due to a reduced depreciation charge. We have introduced a FY 2020 forecast, in which we see positive earnings. We have raised our TP from 123p to 153p – 15% upside – an