BTIG analyst Gregory Lewis lowered the firm’s price target on Seadrill (SDRL) to $50 from $60 and keeps a Buy rating on the shares as part of a broader research note. Floater activity continues to drift lower with about 125 floaters working in October – down from the year-to-date average of about 128 – and with 2025 shaping up to be a transition year for the offshore drilling activity, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SDRL:
- Transocean’s (RIG) Potential Merger with Seadrill Could be a Game Changer
- Stifel says possible sale could mean material upside to Seadrill shares
- Closing Bell Movers: Tesla gains 12% as Q3 earnings beat estimates
- Seadrill up 9% at $38.50 on Bloomberg report of potential merger with Transocean
- Transocean said to be in merger talks with Seadrill, Bloomberg says