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Boskalis: Jefferies initiates coverage as a buyer

(CercleFinance.com) - Jefferies has initiated its coverage of Boskalis Westminster shares with a "buy" rating and target price of 35 euros, representing upside potential of 45%, believing that " key value drivers are recovering" for the Dutch port and coastal infrastructure group.


The broker highlights "a recovery in demand for maritime infrastructure and offshore oil & gas, while climate change drives growing investments in coastal protection and offshore wind".

"The industry order book has doubled to 2x revenues, while there is a growing pipeline of new projects," it adds, expecting Boskalis to recover to a mid-cycle EBIT margin of 11.5%, resulting in EBIT growth of 18% p.a.


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