Thursday May 8, 05:56 PM
Sevan Marine downgraded to "reduce"
By Kaupthing
LONDON, May 8 (newratings.com) - Analysts at Kaupthing downgrade Sevan Marine ASA (Oslo: SEVAN.OL - news) (ticker: 4SM) from "neutral"
to "reduce." The target price has been raised from NOK73 to NOK75.
In a research note published this morning, the analysts mention that the company's share price has appreciated in the recent past. Sevan Marine has reported its EBIT for the latest period marginally ahead of the estimates, the analysts say. The company appears satisfied with a significantly lower dayrate relative to the market for a potential new drilling unit, Kaupthing adds.
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