(ADPnews) - Jun 30, 2010 - SEB Enskilda has cut the price target on Norwegian oil service group Aker Solutions ASA (OSL:AKSO) to NOK 99 from NOK 110 and confirmed its "hold" recommendation, ahead of the release of the company's second-quarter report.
Aker Oilfield Services has performed quite weaker than it was expected in 2009, when Aker Solutions acquired the company from Norwegian industrial conglomerate Aker ASA (OSL:AKER), the broker wrote in a recent note.
As a consequence of the later-than-planned delivery of the fourth vessel and reduced chances for well-intervention contracts after a Brazilian player got the targeted contract by Brazilian oil and gas …
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