In a report published Friday, Jefferies & Company reiterated its Hold rating on Hercules Offshore Corp. HERO, and slightly raised its price target from $5.00 to $5.50.
Jefferies noted, “We believe shares can continue their upward march to the mid-$5 range. This should be driven by: (1) a continued slow and steady upward trend in GoM dayrates and (2) the likelihood of one rig returning to service in both domestic and international markets. We remain on the sidelines, as we would like to feel closer to a more transformational change (rig profile or balance sheet) to get more constructive.”
Hercules Offshore Corp. closed on Thursday at $4.94.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in