- (PLX AI) - Subsea 7 shares fell 6%, losing some of yesterday's gains, as analysts at Bank of America reiterated their underperform rating on the stock.
- • Q4 earnings were reassuring, but the company is set for negative free cash flow of $300 million this year, BofA said
- • That, combined with the reliance on Renewables to contribute $100 million to EBITDA following 3 years of negative EBIT prevent the analysts from becoming more positive, BofA said
- • Meanwhile, Danske kept their buy rating, and said 2022 should continue to see good order intake, with good free cash flows from 2023 onwards
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