SB1 Markets repeats its Sell rating for the oil services company Aker Solutions with a price target of 32 Norwegian kroner.
The brokerage considers the valuation of the stake in OneSubsea to be too high, given capacity constraints and a cyclical subsea market that may be close to its peak. The stock implies a free cash flow yield of approximately 6 percent for OneSubsea, versus 10 percent, which SB1 considers reasonable.
At the same time, activity and margins for Aker Solutions are expected to weaken in 2027–2028, despite possible positive developments in the short term.
