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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TDW: