BTIG analyst Gregory Lewis raised the firm’s price target on Borr Drilling to $8 from $7 and keeps a Buy rating on the shares as part of a broader research note on Offshore Drillers. The offshore driller market is experiencing an ongoing upcycle, with leading edge drillship dayrates having more than doubled since early 2021 to over $450K per day, their highest level since 2015, the analyst tells investors in a research note. BTIG further states that with drillship dayrates comfortably above $400K, more drillship reactivations should be coming this year.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on BORR: