Tidewater price target raised to $110 from $90 at BTIG

BTIG raised the firm’s price target on Tidewater to $110 from $90 and keeps a Buy rating on the shares. The firm is citing expectations of continued increase in pricing and utilization amid increasing offshore construction spend and rising rig activity, the analyst tells investors in a research note. BTIG adds that despite the ongoing concerns around global oil demand, the IEA recently revised up its 2024 demand forecast to about 1.3M barrels per day.