Valaris price target lowered to $105 from $106 at Barclays

Barclays analyst Eddie Kim lowered the firm’s price target on Valaris to $105 from $106 and keeps an Overweight rating on the shares. Despite a lack of near-term catalysts, the firm sees significant upside across offshore energy services after the 21% selloff since the peak in September, the analyst tells investors in a research note. The firm believes risks heading into the group’s Q4 reports are largely reflected in current valuations.