High visibility, 88% '24-26e coverage + options to at least mid-2029 and significant FCF growth towards '26. 3.5-2.7x EBITDA and 19-30% FCF yield (EV) '25/'26, BUY, TP of NOK 75 (56).

11 Apr 2024
Unique NO position is paying off

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Unique NO position is paying off
- Published:
11 Apr 2024 -
Author:
ABGSC Oil & Oil Services Research | Haakon Amundsen | Stian Wibstad -
Pages:
10 -
High visibility, 88% '24-26e coverage + options to at least mid-2029 and significant FCF growth towards '26. 3.5-2.7x EBITDA and 19-30% FCF yield (EV) '25/'26, BUY, TP of NOK 75 (56).