UPDATE: Jefferies Upgrades Eneti Inc (NETI) to Buy as s Upside Catalysts Outweigh Downside Risks

January 21, 2022 3:29 AM EST
Get Alerts NETI Hot Sheet
Price: $6.73 -0.44%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 24 | New: 13
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(Updated - January 21, 2022 7:52 AM EST)

Jefferies analyst Randy Giveans upgraded Eneti Inc (NYSE: NETI) from Hold to Buy with a price target of $10.00 (from $21.00).

The analyst commented, "NETI continues to pursue growth and recently announced it would exercise its option to construct a second foreign-flag WTIV vessel with Daewoo. Additionally, NETI completed a secondary offering of 19 MM shares, raising $175 MM to partially finance its upcoming WTIV newbuildings, and recently announced a new employment contract for the Seajacks Scylla in 2023. We are upgrading to Buy with a $10 PT due to Eneti's ESG/renewable focus coupled with upside catalysts."

For an analyst ratings summary and ratings history on Eneti Inc click here. For more ratings news on Eneti Inc click here.

Shares of Eneti Inc closed at $7.24 yesterday.

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