Mergers and acquisitions activity in the oil services sector is primed to increase following Seadrill SDRL beating out Ensco ESV for Score.
Atwood Oceanics ATW and Pride International PDE are on the list of M&A candidates, Pritchard said. M&A should be a catalyst for the names in the group and help drive up some valuations, with the least Gulf of Mexico exposure outperforming, Pritchard added.
Vantage Drilling VTG is another takeover candidate, according to Pritchard Capital.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in