HOME ZACKS RESEARCH FUNDS PORTFOLIO BROKER RESEARCH MARKETS SCREENING EDUCATION SERVICES
Zacks Rank    Equity Research    Premium Home    My Account    Help    

PeopleandPicks.com is Zacks' Community Website
Find great stocks and great stock pickers in our online community. It's social, it's profitable and it's Free! Join the fun at PeopleandPicks.com
Quote:
Login Free Membership
Search:

 
Bull of the Day

Acergy S.A. - ADR (ACGY)

September 29, 2008 | Comments: 0
Recommended this article (0)
Print    Share

London-based Acergy, previously known as Stolt Offshore S.A. (SOSA), is a leading oilfield contractor engaged in the designing, procurement, building, installation, and servicing of a range of offshore surface and sub-surface equipment for the oil and gas industry. We are upgrading Acergy S.A. ADRs to Buy from Hold following the stock's roughly 50% pullback since July.

We believe that the recent weakness has made valuation very compelling for this leading oilfield contractor. Acergy has been successfully pursing a strategic shift towards the deepwater markets, enjoying a leading market position with strong growth prospects across all of its regions. Acergy's growing backlog, which now stands at $3.6 billion, offers strong long-term earnings and cash flow visibility.

Last year's successful completion of the challenging and technically complex Greater Plutonio project (the company's single-largest project to date) offshore Angola demonstrated the company's capabilities in deepwater engineering and construction. Acergy remains well positioned to capitalize on the positive outlook for subsea engineering and construction services demand over the coming years.


Email

Print

Share

RSS

Rate Pos

Rate Neg

Comment
Read/Post Comments (0) | Recommended this article (0)
 Posting Comment...
There was a problem posting this this comment. Please try back later.
[CLICK TO CLOSE X]
Comments (Limit 1000 Characters - Used: 0)
Display Name: Email Address:  
 Loading Comments...
Be the first to comment on this article!

More Zacks Resources

Market Summary Nov 08, 2009 06:59 am ET
DJIA 10023.42  17.46 0.17%
NASD 2112.44  7.12 0.34%
S&P 500 1069.3  2.67 0.25%
Sponsored Links