Helix Energy Solutions Group Receives Overweight Rating from Morgan Stanley (HLX)
Helix Energy Solutions Group (NYSE:HLX)‘s stock had its “overweight” rating restated by investment analysts at Morgan Stanley in a note issued to investors on Wednesday, Analyst Ratings Network.com reports. They currently have a $27.00 price objective on the stock. Morgan Stanley’s price objective would suggest a potential upside of 24.54% from the stock’s previous close.
The analysts wrote, “Newbuild contracts with PBR open the door for well intervention vessels in Brazil, paving the way for additional opportunities as PBR begins to realize the efficiency benefits of these vessels over rigs. These contracts also imply that a soft rig market poses little threat to HLX’s intervention business.”
A number of other analysts have also recently weighed in on HLX. Analysts at Zacks downgraded shares of Helix Energy Solutions Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 30th. They now have a $24.90 price target on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Helix Energy Solutions Group presently has an average rating of “Hold” and an average target price of $25.95.
Shares of Helix Energy Solutions Group (NYSE:HLX) traded up 1.66% during mid-day trading on Wednesday, hitting $22.04. 136,235 shares of the company’s stock traded hands. Helix Energy Solutions Group has a one year low of $19.44 and a one year high of $27.58. The stock has a 50-day moving average of $21.8 and a 200-day moving average of $23.8. The company’s market cap is $2.332 billion.
Helix Energy Solutions Group, Inc(NYSE:HLX) is an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on its growing well intervention and robotics operations.
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