Valaris price target lowered to $60 from $90 at BTIG

BTIG lowered the firm’s price target on Valaris (VAL) to $60 from $90 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.