RBC Capital Markets revised its price target and forecasts for Aker Solutions (AKSO.OL) amid a model update, expecting the current supportive offshore environment to be a key driver of the energy industry services company's medium-term outlook.
The price target was raised to 48 Norwegian kroner from 42 kroner on Tuesday, with the stock's rating reiterated at sector perform.
"We have updated our forecasts for Aker Solutions' 1Q26 results and guidance revisions. FY26 revenue guidance has been raised to around NOK50bn from the previous NOK45-50bn range set at 4Q25," analysts wrote. "While Aker Solutions' revenues are expected to fall in FY27, underpinned by the completion of the large Aker BP projects ongoing, we see the completion of these projects as margin accretive in FY27, and continue to see a supportive offshore environment underpinned by the current Middle East conflict."
Reported basic EPS forecasts for 2026 and 2027 were raised to 5.97 kroner and 5.11, respectively, from 5.23 kroner and 5.10 kroner, while that for 2028 was lifted to 4.75 kroner from 4.70 kroner. Revenue and EBITDA projections for all three years were also increased.
"We remain Sector Perform, continuing to see a muted outlook for large oil and gas infrastructure investments in Norway beyond the current Aker BP cycle, and the tender pipeline needs to convert into firm awards to sustain revenue beyond 2027. We think this needs to accelerate to maintain a flatter revenue outlook beyond 2027," RBC noted.