Shares of Valaris Ltd (VAL), a leading offshore drilling contractor, plummeted by 5% on Thursday, November 1st, as analysts from Susquehanna and BTIG slashed their price targets on the stock.
Susquehanna analyst Charles Minervino lowered the firm's price target on Valaris from $61 to $55, while maintaining a Neutral rating. Meanwhile, BTIG analysts took a more drastic step, reducing their price target from $90 to $60, although they kept a Buy rating on the shares.
The price target reductions by these prominent analysts appear to have weighed heavily on investor sentiment, triggering a selloff that led to Valaris' 5% share price decline. While BTIG maintained a Buy rating, the significant downward revision to their price target likely raised concerns among investors about the company's future prospects and valuation.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。