BTIG Upgrades Tidewater to Buy Amid Rising Activity and Dayrate Expectations
Tidewater (TDW) saw its stock rise 3.6% on Tuesday after BTIG upgraded the company from Neutral to Buy, setting a $120 price target. The upgrade is based on expectations of increased activity in key offshore basins leading to higher dayrates and a tightening market for large platform supply vessels. The brokerage anticipates strong demand over the next two years will support Tidewater's fleet utilization and pricing power. This outlook reflects broader industry trends where energy companies are ramping up operations, particularly in regions with significant oil and gas infrastructure needs.
Tickers: $TDW
Topics: BTIG oilfield services stock upgrade Tidewater