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For 2009, the stockbroker lifted its earnings per share (EPS) estimates to USD0.70 from USD0.61, while the 2010 estimates were raised to USD0.56 from USD0.52.
JP Morgan maintained an "underweight" recommendation on Acergy after a sensitivity analysis showed that there is a downside of 34% compared to the current valuation of the share if the margins in 2010 fall back to the level in the second half of 2009 of 6.4%.
By 10:59 CET on Tuesday, the share in Acergy had added 1.97% to NOK67.14 on the Oslo Stock Exchange.
(EUR1 = NOK8.96, EUR1 =USD1.4)
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