Barclays: Unfortunate Competitor Accidents May Put Bristow Group (BRS) In Better Position

June 15, 2012 1:54 PM EDT
Get Alerts BRS Hot Sheet
Price: $18.81 +3.47%

Rating Summary:
    10 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 11
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Barclays maintains an 'Equalweight' on Bristow Group (NYSE: BRS) price target of $52.00.

Analyst, Anthony Walker, said, "We continue to believe Bristow will capitalize on the unfolding expansion in offshore and particularly deepwater spending, which should continue over the next decade. The ongoing new rig construction cycle and an unfolding recovery in the Gulf of Mexico also provide increased long-term earnings visibility."

However, Walker notes that competitor accidents may have taken a toll on the stock, with recent helicopter accidents in the Gulf of Mexico, Brazil and the North Sea. But, the dip in BRS's stock price should be looked at as an opportunity to get in on 'sale' pricing. Also, asset value of the company limited the downside of shares.

For an analyst ratings summary and ratings history on Bristow Group click here. For more ratings news on Bristow Group click here.

Shares of Bristow Group closed at $38.60 yesterday.

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