(ADPnews) - Jul 16, 2010 - Societe Generale has downgraded its recommendation on Oslo-listed oil service company Acergy SA (OSL:ACY) to "hold" from "buy" following the release of the group's report for the second quarter of 2010 last Wednesday.
The share price target was reduced to NOK 104 from NOK 125.
Although Acergy beat expectations, the broker is disappointed with the falling order book and the company's comments on competition margins in 2011, as well as a cautious tone related to the indirect effect which the oil spill in the Gulf of Mexico will have for the …
No comments:
Post a Comment