Jefferies Assumes Coverage on Hercules Offshore (HERO) at Hold; Smart Mgmt Makes Best of Bad Situation
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Price: $27.96 +3.33%
Rating Summary:
3 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies assumes coverage on Hercules Offshore (NASDAQ: HERO) with a Hold. PT $5.00.
"The company operates in the most challenging segment of the Offshore Drilling market (GoM mat jackups) but in 2012 this market too has made tremendous improvements after the very depressed conditions that lingered for ~3 years. As such, we finally see a (relatively) stable outlook for HERO in the foreseeable future, which if sustainable for a couple of years, could provide the company with just enough cash flows to allow it to drastically improve on its capital structure and allow it to make investments that will make it a sturdier business in the longer-run. While our price target suggests there is some decent upside to shares, HERO shares are significantly more volatile given the greater vulnerability to macro disruptions than the rest of its offshore drilling peers."
For an analyst ratings summary and ratings history on Hercules Offshore click here. For more ratings news on Hercules Offshore click here.
Shares of Hercules Offshore closed at $4.49 yesterday.
"The company operates in the most challenging segment of the Offshore Drilling market (GoM mat jackups) but in 2012 this market too has made tremendous improvements after the very depressed conditions that lingered for ~3 years. As such, we finally see a (relatively) stable outlook for HERO in the foreseeable future, which if sustainable for a couple of years, could provide the company with just enough cash flows to allow it to drastically improve on its capital structure and allow it to make investments that will make it a sturdier business in the longer-run. While our price target suggests there is some decent upside to shares, HERO shares are significantly more volatile given the greater vulnerability to macro disruptions than the rest of its offshore drilling peers."
For an analyst ratings summary and ratings history on Hercules Offshore click here. For more ratings news on Hercules Offshore click here.
Shares of Hercules Offshore closed at $4.49 yesterday.
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