Jefferies Drops Helix Energy Price Target (HLX)

Jefferies analysts lowered their price target 25%, but maintained a Buy rating for Helix Energy Solutions HLX. 2Q EPS was reported at $0.18, versus consensus of $0.14 and Jefferies estimate of $0.04. Jefferies said, "Our $12 price target is based on a sum-of-the-parts analysis. Risks include GOM production shut-ins, exploration risk, capex cost inflation, a potential slow-down in offshore drilling activity, and an absence of buyers for HLX's E&P assets."