Skip to main content

Market Overview

Credit Suisse Upgrades Helix Energy To Outperform, Price Target Doubled To $10


Credit Suisse’s Gregory Lewis believes that well intervention is an effective means of boosting volumes and slowing the decline in rates of old wells. The analyst upgraded the rating for Helix Energy Solutions Group Inc (NYSE: HLX) from Neutral to Outperform, while raising the price target from. $5 to $10.

Well Intervention Prospects

Analyst Gregory Lewis cited Helix Energy’s leading position in the well intervention segment as the reason for the upgrade in rating. An increase in oil prices is expected to boost well intervention activity and benefit Helix Energy.

“With many deepwater wells now 8-9 years old, they are in need of well intervention which should boost volumes allowing oil companies to slowdown decline rates,” Lewis wrote. He expects 2016 to be the earnings trough for Helix Energy as the well intervention activity picks up in 2017.

The EPS estimates for 2016 and 2017 have been raised from ($0.70) to ($0.50) and from ($0.64) to ($0.15), respectively.

“Our sum of parts analysis values the Well Intervention at $4/share, Robotics at $3/share, and Production Facilities at $3/share. Our SOP estimate excludes $495M in cash ($5/share),” the Credit Suisse report mentioned.

Latest Ratings for HLX

Apr 2021B of A SecuritiesDowngradesBuyNeutral
Apr 2021BTIGInitiates Coverage OnNeutral
Jul 2020Piper SandlerUpgradesNeutralOverweight

View More Analyst Ratings for HLX
View the Latest Analyst Ratings


Related Articles (HLX)

View Comments and Join the Discussion!

Posted-In: Credit Suisse Gregory LewisAnalyst Color Long Ideas Upgrades Price Target Analyst Ratings Trading Ideas

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at