Seadrill raised to Buy at Citi as top-rated offshore driller; Transocean cut [Seeking Alpha]
Seadrill Limited Common Shares (SDRL)
Last seadrill limited common shares earnings: 8/25 04:01 pm
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US:NYSE Investor Relations:
seadrill.com/investor-relations.aspx
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Source: Seeking Alpha
offshore drillers, forecasting a sector-best free cash flow yield in 2026 of greater than 20%. Citi analyst Scott Gruber also points to Seadrill's ( SDRL ) superior takeout potential, with Transocean ( NYSE: RIG ) mentioned as a potential suitor, and confidence that Seadrill will renew its Brazilian rigs at "solid" rates. Next, Gruber prefers Noble Corp. ( NE ) on the possibility that buybacks could ramp up with the closing of the Diamond Offshore acquisition, estimating FY 2026 revenues of $4.3B, EBITDA of $1.88B and FCF of $1.14B, followed by Valaris ( VAL ), which has the highest quality spare capacity. For its part, Citi downgrades Transocean ( RIG ) to Neutral from Buy with a $4.50 PT, saying the company has the greatest backlog coverage and thus the least amount of revision risk on updated estimates, but shares trade at a premium to the bank's more conservative forecasts while buybacks are "not on the horizon." Recommended For You Recommended For You More Trending Ne
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News
- Seadrill Ltd (SDRL) Q3 2024 Earnings Call Highlights: Strong EBITDA Performance and Strategic ... [Yahoo! Finance]Yahoo! Finance
- Seadrill Announces Third Quarter 2024 Results and Increases Full-Year GuidanceBusiness Wire
- Earnings Preview: Seadrill (SDRL) Q3 Earnings Expected to Decline [Yahoo! Finance]Yahoo! Finance
- MOWI: Ole-Eirik Lerøy to step down as Chairman [Yahoo! Finance]Yahoo! Finance
- Transocean Discussing Merger With Rival Seadrill as Offshore Downturn Eases [Yahoo! Finance]Yahoo! Finance