Barclays: Unfortunate Competitor Accidents May Put Bristow Group (BRS) In Better Position
Tweet
Share
E-mailGet Alerts BRS Hot Sheet
Price: $0.29 --0%
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Is the global equity rally broadening? UBS weighs in
- Morgan Stanley course-corrects their semiconductor equipment outlook on demand
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
