In a report published Monday, Morgan Stanley analyst Ole Slorer reiterated an Overweight rating on Seadrill Ltd. SDRL, but lowered the price target from $48.00 to $39.00.
In the report, Morgan Stanley noted, “Dividend concerns have re-surfaced against the backdrop of sub-$100/bbl Brent, broad rig market weakness and uncertainty around SDRL's Rosneft deal. We still model for SDRL to maintain a $4/sh annual dividend but acknowledge growing risk of a dividend cut and lower our PT from $48 to $39.”
Seadrill Ltd. closed on Friday at $30.87.
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