Kepler Capital Maintains a Buy Rating on Kvaerner ASA (KVAEF)

By Jason Carr

In a report released yesterday, Kevin Roger from Kepler Capital maintained a Buy rating on Kvaerner ASA (KVAEFResearch Report), with a price target of NOK11.00. The company’s shares closed last Monday at $0.60, close to its 52-week low of $0.60.

According to TipRanks.com, Roger is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -10.8% and a 30.5% success rate. Roger covers the Services sector, focusing on stocks such as Shelf Drilling, Borr Drilling, and BW Offshore.

Currently, the analyst consensus on Kvaerner ASA is a Moderate Buy with an average price target of $1.14.

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Based on Kvaerner ASA’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.43 billion and net profit of $38 million. In comparison, last year the company earned revenue of $1.52 billion and had a net profit of $86 million.

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Kværner ASA provided ship building and other related engineering services. Its principal activity was to provide services related to design, construction, maintenance, modification and operation of large and small industrial facilities. The group also provided technology products and integrated solutions. The services of the group were provided to industries that include oil and gas upstream and downstream, process, pharmaceuticals, metals, power, chemical, pulping, environmental technologies and ship building. The company was headquartered in Oslo, Norway.