UPDATE: Credit Suisse Upgrades Bristow Group (BRS) to Outperform, $53 Price Target But Sees Potential for $6-$8 More

Credit Suisse is upgrading shares of Bristow Group (NYSE: BRS) to an Outperform rating from its previous rating of Neutral based on an attractive relative valuation, increased growth visibility in core operations, and optionality associated with significant new contract opportunities in the UK and Brazil.

The firm reports that BRS appears well positioned to secure new contracts from Petrobras through their Lider affiliate and capitalize on a major Search and Rescue opportunity in the UK. All together this may increase earnings for the company by $0.56.

The company released its 2012 guidance with an EPS range of $3.55-$3.90, which was well ahead of the firm's previous expectation of $3.43. The firms current price target is $53, but notes that it sees another $6 to $8 per share in value tied to potential near-term success in Brazil and the UK.

For more ratings news on Bristow Group click here and for the rating history of Bristow Group click here.

Shares of Bristow Group closed at $42.82 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15