Valaris price target lowered to $91 from $98 at Barclays

Barclays lowered the firm’s price target on Valaris to $91 from $98 and keeps an Overweight rating on the shares post the Q2 report. The The message from earnings was clear: deepwater rig demand will likely hold steady through mid-2025, the analyst tells investors in a research note. The firm lowered 2024 and 2025 5 estimates across the board but still sees significant share upside from current levels.