Jefferies Raises Price Target On Bristow Group (BRS)

Jefferies & Co. is raising its price target on Bristow Group BRS to $41 from $35, but is keeping its Hold rating on shares. In a note to clients, Jefferies writes, "Although we believe BRS represents good long-term small cap growth story leveraged to the expansion of global offshore drilling activity, we believe a modest increase in activity and margins is likely already priced in with the stock trading at a premium to its average 3-year NTM TEV/EBITDA multiple." Shares of BRS gained 87 cents yesterday to close at $41.31, a gain of 2.15%.