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Enter Symbol:
Subsea 7 Sa (SUBCY) [hlAlert]

up 73.03 %

Acergy S.a. (ACGY) downgraded to Sell by Citigroup

Posted on: Monday,  Oct 26, 2009  8:25 AM ET by Citigroup

Citigroup rated Sell Subsea 7 SA (OTCBB: SUBCY) on 10/26/2009, when the stock price was $13.86. Since
then, Subsea 7 SA has lost 42.21% as of 08/27/2015's recent price of $8.01.
If you would have followed this Citigroup's recommendation on SUBCY, you would have gained 73.03% of your investment in 2131 days.

Acergy S.A., through its subsidiaries, provides seabed-to-surface engineering and construction contracting services for the offshore oil and gas industry worldwide. It operates in five segments: Subsea Construction, Umbilicals, Risers, and Flowlines (SURF); Inspection, Maintenance, and Repair (IMR); Conventional; Trunklines; and Survey. The SURF segment provides engineering, procurement, and construction work relating to oil and gas fields. This includes tieback projects, which involve pipelaying, umbilical installation, and trenching or ploughing to connect a new or additional subsea development to an existing production facility. The IMR segment offers platform surveys, debris removal, and pipeline inspections using divers and/or remotely operated vehicles on producing oil and gas field infrastructure. The Conventional segment comprises engineering, construction, installation, and refurbishment activities relating to platforms attached to the seabed and their associated pipelines. Its conventional activities include design, construction, and installation of fixed platforms. The Trunklines segment comprises offshore installation of pipelines used to carry oil or gas over long distances. The Survey segment provides support for both external clients and internal projects in the fields of construction support, pipeline inspection, and sea bed mapping using specialized survey ships and survey remotely operated vehicles. Its construction support activities include prelay, as-laid, and as-trenched surveys; spool metrology; deepwater positioning; and light installation works. The company is based in Sunbury-on-Thames, the United Kingdom.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.
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(*) Stock Price at the time of the recommendation.
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