RE: Barclays broker target 2.806 Oct 2021 08:48
It will be a lot higher than £2.80. Trading update will be coming soon alongside the half year update.
We know the market is more buoyant with crude and energy prices hitting multi year highs this week. New orders in E&C will no doubt see a boost and some award of contracts for the Group should be announced. We know from the June '22 update that they had a bidding pipeline of $48 billion of opportunities that were due for award over the next 18 months.
With the SFO case being concluded they will no doubt attract a few more positive outcomes and be reinstated as the contractor of choice by a few more clients.