Within Europe’s Energy Sector, Analysts Bullish on Equipment & Services Companies

Steven Bobson, Europe & Americas Editor
September 07, 2012 /

The Energy sector has the highest percentage of Buy ratings of any sector in the MSCI Europe index at 57%.

Over the past twelve months, the average percentage of Buy ratings for the sector has been 61%, which is also the highest of any sector in the MSCI Europe index.

Within the Energy sector, where are analysts most bullish at the industry or sub-industry level?

There are five sub-industries in the Energy sector in the MSCI Europe index. The Oil & Gas Equipment & Services sub-industry has the highest percentage of Buy ratings at 65%. Within this sub-industry, Saipem S.p.A. (85%) and Aker Solutions ASA (76%) have the highest percentages of Buy ratings at the company level.

Overall, there was a negative shift in sentiment during August. Of the 10,241 ratings on MSCI Europe companies at the end of August, 47.1% were Buy ratings, 38.4% were Hold ratings, and 14.5% were Sell ratings.

During the month of August, the number of Buy ratings (-3.5%) declined relative to the month of July, while the number of Hold ratings (+2.8%) and Sell ratings (+4.5%) increased relative to the previous month. In terms of Buy ratings, nine sectors saw a decrease in Buy ratings, led by the Financials (-7%) and Information Technology (-7%) sectors.

In terms of Hold ratings, eight sectors witnessed a rise in Hold ratings, led by the Energy (+9%) sector. In terms of Sell ratings, seven sectors recorded a jump in Sell ratings, led by the Health Care (+11%) and Materials (+10%) sector.

At the country level, analysts are most optimistic about stocks in Norway and least optimistic about stocks in Greece, based on the percentages of Buy ratings. Companies in Norway had the highest percentage of Buy ratings (59%) of all ten sectors, while companies in Greece had the lowest percentage of Buy ratings (31%).


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