Valaris price target lowered to $82 from $88 at Barclays

Barclays lowered the firm’s price target on Valaris to $82 from $88 and keeps an Equal Weight rating on the shares. The analyst believes the post-earnings selloff was overdone as 2023 was always going to be a transition year. The Q4 earnings likely represents a clearing event for Valaris with Street estimates now recalibrated lower, the analyst tells investors in a research note.