UPDATE: Credit Suisse Downgrades Hornbeck Offshore (HOS) to Underperform, 'A Lot of Potential Potholes in the Road Ahead'
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(Updated - January 12, 2018 7:45 AM EST)
(updated to add analyst comment)
Credit Suisse downgraded Hornbeck Offshore (NYSE: HOS) from Neutral to Underperform with a price target of $2.00.
Analyst Gregory Lewis comments "Given our expectation for HOS to generate negative EBITDA in 2018, our $2 target price is based on our fleet NAV."
Shares of Hornbeck Offshore closed at $3.95 yesterday.
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