BTIG analyst Gregory Lewis names Helix Energy (HLX) as his BTIG Top Pick for first half of 2023, replacing Valaris (VAL) on that list. After years of building out its fleet, and with offshore spending growth expected to accelerate, Helix is positioned to move into "harvest mode" and generate free cash flow, the analyst tells investors in a research note, adding that with fewer competitors, utilization for the company’s core well Intervention assets is improving as the offshore OFS cycle ramps. The analyst has a Buy rating and a $10 price target on the stock.
Published first on TheFly
