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UPDATE: Morgan Stanley Upgrades Helix Energy Solutions to Overweight on Visibility to Attractive Returns

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Morgan Stanley upgraded Helix Energy Solutions Group, Inc. (NYSE: HLX) from Equal-weight to Overweight and announced a $27.00 price target.

Morgan Stanley commented, "Well intervention is a niche market with relatively high barriers to entry due to the high cost of vessel construction and a few experienced, disciplined players. We see the market as undersupplied with strong backlog visibility, little near-term availability, and growing demand as we see an increasing population of aging wells. Helix is able to grow by adding newbuilds or converting older rigs into viable intervention vessels."

Helix Energy Solutions closed at $20.85 on Monday.

Latest Ratings for HLX

DateFirmActionFromTo
Jan 2016Stephens & Co.UpgradesEqual-weightOverweight
Sep 2015Cowen & CompanyInitiates Coverage onMarket Perform
Jul 2015Johnson RiceDowngradesBuy

View More Analyst Ratings for HLX
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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