PVD [MARKET PERFORM -6.6%] - Valuation looks full despite stronger day rates, oil prices - Update
  • 2022-03-04T00:00:00
  • Company Research

We maintain a MARKET PERFORM rating for PVD. We expect robust earnings growth in 2022F to be driven by a recovery of jack-up (JU) day rates and the contribution from the TAD’s 10-year contract. However, PVD’s share price has already reflected this recovery, in our view. 


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