Jesup & Lamont Upgrades Bristow Group (BRS) to Buy; Demand Starting to Rise
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Jesup & Lamont upgrades Bristow Group (NYSE: BRS) from Hold to Buy.
Jesup analyst says, "Bristow Group has done a great job during this downturn of controlling costs and increasing efficiencies with its fleet. The company is now looking forward to increased demand as we move into 2010. With 47 purchase options for new equipment, we would expect the fleet size to grow as markets return. We are upgrading to BUY and have raised our estimates for fiscal 2010 and 2011. Our new target price is $42.00 per share, which is based on 12x our 2011 earnings estimate of $3.50 per share. We believe the worst is behind the company and demand is starting to rise as the markets recover."
To see more analyst ratings on BRS Click Here.
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