UPDATE: Citigroup Initiates Coverage on GulfMark Offshore with Buy Rating, $50 PT
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
|Nov 2014||Evercore ISI||Downgrades||Hold||Sell|
|Sep 2014||Tudor Pickering||Downgrades||Accumulate||Hold|
|Jul 2014||RS Platou||Downgrades||Neutral||Sell|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.