DNB Markets resumes coverage of Seadrill with a buy recommendation and price target of NOK 450 per share, according to an update from the brokerage house on Friday.
The price target means that the brokerage house sees a slightly more than 63 percent upside in the share, after the opening price on Monday.
With an improved offshore drilling market and renewed optimism in the sector, the brokerage believes that the company’s modern and highly specified fleet is well placed to reap the benefits and participate in a potential industrial consolidation.
(TDN Direct)
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