BUZZ-Helix Energy rises, Raymond James initiates coverage with 'strong buy'

Reuters
2024-09-20

** Shares of offshore energy services company Helix Energy Solutions Group rises ~6.9% to $10.52

** Raymond James initiates coverage on HLX with a "strong buy" rating

** Brokerage expects strong growth in offshore services due to increased spending in offshore oil & gas activity

** Increased offshore wind development continues to help the company's robotics business, where it specializes in site development and cable trenching operations - Raymond James

** All 5 analysts rate the stock "buy" or higher; median PT is $15 - LSEG data

** Including session moves, stock up nearly 2.14% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.Srivastava2@thomsonreuters.com;))

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