Market Overview

UPDATE: Citigroup Initiates Coverage on Hornbeck Offshore Services with Buy Rating, $60 PT

Related HOS
Mid-Day Market Update: La-Z-Boy Drops After Q1 Miss; Paratek Pharmaceuticals Shares Rise
15 Biggest Mid-Day Losers For Monday

In a report published Friday, Citigroup initiated coverage on Hornbeck Offshore Services (NYSE: HOS) with a Buy rating and $60.00 price target.

Citigroup noted, “We are initiating coverage of Hornbeck Offshore Services, Inc. (HOS) with a Buy rating and $60 price target, implying a 72% estimated total return. Our price target of $60 is 32% higher than the FactSet consensus price target of $45.54. The stock has pulled back by 18% from a 52-week high of $43.83 in August 2012, driven by three consecutive negative-surprise quarters, but we attribute the recent earnings pressures largely to GoM utilization issues that the stretch program should effectively address.”

Hornbeck Offshore Services closed on Thursday at $34.91.

Latest Ratings for HOS

Aug 2016iBERIA Capital PartnersDowngradesSector PerformUnderperform
May 2016Clarksons PlatouUpgradesSellNeutral
May 2016Stephens & Co.UpgradesUnderweightEqual-Weight

View More Analyst Ratings for HOS
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Analyst Ratings


Related Articles (HOS)

View Comments and Join the Discussion!

Partner Center