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The latest announcement is out from Gulf Marine Services ( (GB:GMS) ).
Gulf Marine Services has secured a new contract for one of its Large-class vessels in the Middle East, running for a total of two years including options, underscoring strong ongoing demand for its SESV fleet and further bolstering its contract backlog, which management says has recently grown by 2,354 days of work. The company also corrected a typographical error in a previous disclosure, clarifying that a recently announced contract actually covers 1,624 days rather than 985, a change that materially increases the implied visibility of future vessel utilisation and revenue for stakeholders while leaving all other disclosed terms unchanged.
The most recent analyst rating on (GB:GMS) stock is a Buy with a £18.00 price target. To see the full list of analyst forecasts on Gulf Marine Services stock, see the GB:GMS Stock Forecast page.
Spark’s Take on GB:GMS Stock
According to Spark, TipRanks’ AI Analyst, GB:GMS is a Outperform.
Gulf Marine Services scores well due to strong financial performance and positive corporate events. The company’s undervaluation presents potential upside. Technical indicators suggest caution, but the overall outlook remains positive, driven by robust cash flow and strategic corporate actions.
To see Spark’s full report on GB:GMS stock, click here.
More about Gulf Marine Services
Gulf Marine Services, listed on the London Stock Exchange and founded in Abu Dhabi in 1977, is a leading global provider of advanced self-propelled, self-elevating support vessels (SESVs) for the offshore energy industry. Operating a young fleet of 13 vessels from bases in the UAE, Saudi Arabia and Qatar, the company supports clients worldwide in offshore platform maintenance and refurbishment, well intervention, and offshore wind turbine maintenance, as well as platform and turbine installation and decommissioning, with vessels capable of operating in water depths of 45–80 metres and offering significant cost and time efficiencies over conventional support vessels.
Average Trading Volume: 1,418,455
Technical Sentiment Signal: Sell
Current Market Cap: £182M
For a thorough assessment of GMS stock, go to TipRanks’ Stock Analysis page.