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Barclays upgrades Viridien stock rating with new price target of 100 euros
Barclays has upgraded Viridien (VIRI:FP) to Equalweight from Underweight, raising the price target to €100 from €65 following a $1.1 billion refinancing deal that enhances financial stability and debt reduction prospects. Analyst Mick Pickup noted that Viridien is expected to generate around $100 million in net cash flow by 2025, representing about 17% of its market cap. While the outlook is positive, Pickup cautioned that it may take time for investor confidence to rebuild, and highlighted more attractive investment opportunities in the sector.
Barclays has downgraded SBM Offshore NV's stock rating from Overweight to Equal Weight, setting a new price target of EUR25.00. This decision follows a significant 55.2% return over the past year and a 30.52% gain year-to-date, with the stock trading near its 52-week high of $23.20. Analysts emphasize the need for new contract awards to sustain growth and achieve the price target, highlighting the company's strong financial position and consistent dividend payments over the past decade.
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