Market Overview

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

Related HLX
What Makes Dawson Geophysical (DWSN) a Strong Sell? - Tale of the Tape
Helix Energy Stock: Moving Average Crossover Alert - Tale Of The Tape

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.

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

 

Most Popular

Related Articles (HLX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters