KeyBanc Starts Gulf Island Fabrication (GIFI) at Buy; Quality Offshore Energy Contractor
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Price: $12.00 --0%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc initiates coverage on Gulf Island Fabrication (NASDAQ: GIFI) with a Buy. PT $37.00.
KeyBanc analyst says, "We currently view GIFI as one of the more attractive value plays among specialty E&C contractors, as its record backlog coupled with a robust growth outlook for offshore development spending in its core Gulf of Mexico (GoM) market provide strong visibility on material earnings growth in the near and longer term. The decline in GoM oil & gas activity that started with the Great Recession and was extended by the post-Macondo slowdown, coupled with renewed concerns on the macro front, have, in our view, resulted in an overly discounted valuation for GIFI and a compelling opportunity for investors."
For more ratings news on Gulf Island Fabrication click here and for the rating history of Gulf Island Fabrication click here.
Shares of Gulf Island Fabrication closed at $29.37 yesterday.
KeyBanc analyst says, "We currently view GIFI as one of the more attractive value plays among specialty E&C contractors, as its record backlog coupled with a robust growth outlook for offshore development spending in its core Gulf of Mexico (GoM) market provide strong visibility on material earnings growth in the near and longer term. The decline in GoM oil & gas activity that started with the Great Recession and was extended by the post-Macondo slowdown, coupled with renewed concerns on the macro front, have, in our view, resulted in an overly discounted valuation for GIFI and a compelling opportunity for investors."
For more ratings news on Gulf Island Fabrication click here and for the rating history of Gulf Island Fabrication click here.
Shares of Gulf Island Fabrication closed at $29.37 yesterday.
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