Market Overview

UPDATE: Citigroup Initiates Coverage on Tidewater with Buy Rating, $62 PT

Share:
Related TDW
Expecting Continued Low Oil Prices, Argus Maintains Hold Rating On Tidewater
Mid-Afternoon Market Update: Abercrombie & Fitch Slides On Disappointing Results; Minerva Neurosciences Shares Spike Higher

In a report published Friday, Citigroup initiated coverage on Tidewater (NYSE: TDW) with a Buy rating and $62.00 price target.

Citigroup noted, “We are initiating coverage of Tidewater Inc. (TDW) with a Buy rating and $62 price target, implying a 42% estimated total return. Our price target of $62 is 8% higher than the FactSet consensus price target of $57.27. The stock is trading near the bottom of a $42-to-$63 two-year range, and although we model FY3Q13 EPS to coming in light of consensus estimates, we expect a revival of national oil company capital spending in early 2013 to provide impetus for the stock.”

Tidewater closed on Thursday at $44.48.

Latest Ratings for TDW

DateFirmActionFromTo
May 2016iBERIA Capital PartnersDowngradesOutperformSector Perform
Mar 2016Clarkson PlatouDowngradesNeutralSell
Jan 2016Cowen & CompanyDowngradesOutperformMarket Perform

View More Analyst Ratings for TDW
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Analyst Ratings

 

Related Articles (TDW)

View Comments and Join the Discussion!