Jefferies Starts Cal Dive (DVR) at Buy
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Price: $0.14 --0%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Jefferies initiates coverage on Cal Dive (NYSE: DVR) with a Buy. PT $4.50.
The firm comments, "We believe DVR represents an attractive small-cap value for investors willing to take a longer term bet on the return of offshore construction activity worldwide. Specifically, we believe offshore construction activity levels have likely already bottomed and we expect a steady increase in offshore spending for infrastructure in 2012 and beyond. Additionally, we believe DVR is well-positioned to benefit from a return of drilling and related activity in the GOM next year, which has been severely depressed following the 2008 credit crisis and the 2010 Macondo incident."
For an analyst ratings summary and ratings history on Cal Dive click here. For more ratings news on Cal Dive click here.
Shares of Cal Dive closed at $2.15 yesterday.
The firm comments, "We believe DVR represents an attractive small-cap value for investors willing to take a longer term bet on the return of offshore construction activity worldwide. Specifically, we believe offshore construction activity levels have likely already bottomed and we expect a steady increase in offshore spending for infrastructure in 2012 and beyond. Additionally, we believe DVR is well-positioned to benefit from a return of drilling and related activity in the GOM next year, which has been severely depressed following the 2008 credit crisis and the 2010 Macondo incident."
For an analyst ratings summary and ratings history on Cal Dive click here. For more ratings news on Cal Dive click here.
Shares of Cal Dive closed at $2.15 yesterday.
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