UPDATE: Morgan Stanley Reiterates on Helix Energy Solutions Following Newbuild Contracts with PBR
In a report published Wednesday, Morgan Stanley analyst Ole Slorer reiterated an Overweight rating on Helix Energy Solutions (NYSE: HLX), but removed the $27.00 price target.
In the report, Morgan Stanley noted, “Newbuild contracts with PBR open the door for well intervention vessels in Brazil, paving the way for additional opportunities as PBR begins to realize the efficiency benefits of these vessels over rigs. These contracts also imply that a soft rig market poses little threat to HLX's intervention business.”
Helix Energy Solutions closed on Tuesday at $21.68.
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