Jefferies Comments On Hercules Offshore (HERO)

Jefferies commented on Hercules Offshore's HERO purchase announcement to Seahawk Drilling HAWK in a research report published this morning. In the report, Jefferies states, "With the GOM market finally showing signs of modest improvement and international jack-up markets poised to tighten, we believe HERO has several positive catalysts in 2011 that will lead to upward EPS revisions and reduce the probability of covenant violation." Shares of Hercules Offshore were at $4.16 in pre-market trading at the time of posting, up 14.92% from Friday's market close.
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