Morgan Stanley upgraded Helix Energy Solutions Group, Inc. HLX from Equal-weight to Overweight and announced a $27.00 price target.
Morgan Stanley commented, "Well intervention is a niche market with relatively high barriers to entry due to the high cost of vessel construction and a few experienced, disciplined players. We see the market as undersupplied with strong backlog visibility, little near-term availability, and growing demand as we see an increasing population of aging wells. Helix is able to grow by adding newbuilds or converting older rigs into viable intervention vessels."
Helix Energy Solutions closed at $20.85 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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