Market Overview

UPDATE: Citigroup Initiates Coverage on GulfMark Offshore with Buy Rating, $50 PT

Related GLF
Barron's Recap: Protecting Your Golden Years
UPDATE: Wunderlich Initiates Coverage on GulfMark Offshore on Rich Valuation

In a report published Friday, Citigroup initiated coverage on GulfMark Offshore (NYSE: GLF) with a Buy rating and $50.00 price target.

Citigroup noted, “We are initiating coverage of GulfMark Offshore, Inc. (GLF) with a Buy rating and $50 price target, implying a 52% estimated total return. Our price target of $50 is 12% higher than the FactSet consensus price target of $44.56. The stock has pulled back dramatically, by 41%, from a 52-week high of $56.41 in February 2012, driven by three consecutive negative-surprise quarters, but we attribute the earnings misses to transition-year factors.”

GulfMark Offshore closed on Thursday at $33.65.

Latest Ratings for GLF

DateFirmActionFromTo
Jul 2014RS PlatouDowngradesNeutralSell
Jul 2014Credit SuisseMaintainsOutperform
Apr 2014Global HunterUpgradesNeutralBuy

View More Analyst Ratings for GLF
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Analyst Ratings

 

Related Articles (GLF)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters