Jefferies Lifts Price Target On Acergy (ACGY) to $23
ACGY Hot Sheet
Rating Summary:0 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Jefferies raised their price target on Acergy (Nasdaq: ACGY) from $20 to $23, while reiterating a Buy rating, following Q3 earnings.
The firm states, "Momentum has increased following the recent CLOV award and more SURF projects are likely by early 2011. Headwinds include a lackluster North Sea market and fewer booked lower vessel utilization for 2011. The Subsea 7 merger should be a plus for ACGY shares."
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The firm states, "Momentum has increased following the recent CLOV award and more SURF projects are likely by early 2011. Headwinds include a lackluster North Sea market and fewer booked lower vessel utilization for 2011. The Subsea 7 merger should be a plus for ACGY shares."
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