- 2021-11-30T00:00:00
- Company Research
- We raise our TP by 37% and maintain a MARKET PERFORM rating for PVD. We expect robust earnings growth from 2022F to be driven by a recovery of jack-up (JU) rigs and contribution from the TAD’s 10-year contract. However, PVD’s valuation has already reflected the recovery outlook, in our view.
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