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ANALYST VIEWS: WHAT IS THE OUTLOOK FOR PETROFAC IN THE YEAR AHEAD?
ANDREW WHITTOCK | LIBERUM CAPITAL
The positive update confirms 20 per cent growth in 2011, a strong pipeline of opportunities and reiterates longer term growth targets. We continue to believe the growth potential deserves a higher multiple. Buy.
PETER BASSETT | WESTHOUSE SECURITIES
Steady corporate growth continues. The group is also winning more business outside its traditional geographical core of the Middle East. This will reduce the political risk in the company’s operations.
ANDREW DOBBING | JP MORGAN CAZENOVE
We currently forecast earnings growth of 20 per cent for Petrofac in 2012 – on an organic basis this is one of the strongest figures in the sector, and we continue to see good upside potential.