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On Wednesday, Barclays adjusted its stance on Aker Solutions ASA (AKSO:NO) (OTC: AKRTF), downgrading the stock from Overweight to Equalweight and lowering the price target from NOK63.00 to NOK58.00. The investment firm's revision comes despite Aker Solutions clarifying its new liquidity management program, which had previously caused some confusion.
The downgrade was influenced by a cautious outlook for the company's future sales levels beyond 2026. Aker Solutions, which has recently seen a boom on the Norwegian continental shelf, resulting in a record backlog, is now being approached with a more conservative perspective by Barclays.
Barclays' new price target of NOK58.00 per share reflects a tempered expectation for Aker Solutions' growth prospects. The firm's analyst acknowledged the company's efforts to clarify its liquidity management strategy but indicated that the potential for relative upside is now more limited, leading to the change in rating.
The revised rating and price target suggest that while Aker Solutions has a strong order book, its longer-term sales outlook may not be as robust as previously anticipated. The downgrade to Equalweight implies that the stock is anticipated to perform in line with the sector or the broader equity market.
Aker Solutions has not publicly responded to the change in rating and price target by Barclays. The company's shares will continue to be monitored by investors as they assess the impact of the market's evolving expectations on the stock's performance.
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