UPDATE: Wunderlich Securities Initiates Coverage on Tidewater with Buy Rating, $76 PT on Market Leader Position

In a report published Thursday, Wunderlich Securities analyst Todd P. Scholl initiated coverage on

with a Buy rating and $76.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of Tidewater Inc. (TDW) with a Buy rating and price target of $76, which represents 7.9x our 2014 EBITDA estimate. Tidewater is the world's largest provider of offshore support vessels with operations in every major offshore basin in the world. We believe Tidewater's large and diverse fleet combined with its broad geographic exposure will allow the company to take advantage of the massive capital investment being made in the offshore oil and gas space.” Tidewater closed on Wednesday at $58.33.