Market Overview

UPDATE: FIG Partners Initiates Tidewater with $60 PT on Offshore Boom

Related TDW
Companhia Paranaense Leads Energy Sector; Peabody Drops Over 14%
Silicon Motion Surges On Strong Q2 Outlook; GT Advanced Shares Slide

FIG Partners initiated coverage on Tidewater (NYSE: TDW) with a $60 price target and believes the stock is great way to play the boom in offshore drilling.

FIG Partners noted, "We believe that the upcycle in the OSV market is just beginning and with its international exposure and geographic diversification (90% of revenues derived internationally) TDW is perfectly positioned to profit from this trend. … We believe that demand for TDW's services will continue to grow with more and more rigs entering the offshore market and increasing intensity of the services required; and dayrates will only continue to increase from here."

Tidewater closed at $46.84 on Wednesday.

Posted-In: FIG PartnersAnalyst Color Initiation Intraday Update Analyst Ratings

 

Most Popular

Related Articles (TDW)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters