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SFL Corporation ( (SFL) ) just unveiled an announcement.
On March 6, 2026, SFL Corporation announced it had signed a drilling contract in Canada with a large investment-grade multinational oil and gas company for its harsh-environment semi-submersible rig Hercules. The deal, valued at about $170 million for a minimum 400-day term, is expected to commence in the first quarter of 2027.
The Hercules, currently located in Norway, will be prepared for mobilization to Canada later in 2026, with Odfjell Drilling managing the rig on SFL’s behalf under the agreement. Management highlighted that the contract, on Canada’s East Coast where Hercules has previously operated, strengthens the rig’s positioning amid rising demand for harsh-environment, deepwater semi-submersibles toward the end of the decade.
The most recent analyst rating on (SFL) stock is a Hold with a $10.50 price target. To see the full list of analyst forecasts on SFL Corporation stock, see the SFL Stock Forecast page.
Spark’s Take on SFL Stock
According to Spark, TipRanks’ AI Analyst, SFL is a Neutral.
The score is held back primarily by volatile profitability and a highly leveraged balance sheet, despite resilient operating cash flow. Technicals are supportive but overextended, and valuation is helped by the very high dividend yield while a negative P/E reflects the recent loss. Earnings-call commentary adds support via backlog-driven cash-flow visibility, but meaningful financing and asset-employment risks remain.
To see Spark’s full report on SFL stock, click here.
More about SFL Corporation
SFL Corporation Ltd. is a Bermuda-based maritime asset owner listed on the New York Stock Exchange, with a diversified fleet spanning tanker vessels, container ships, car carriers, bulkers and offshore rigs. The company underpins its quarterly dividend record since 2004 with long-term charter contracts and a steadily expanding asset base across global shipping and offshore energy markets.
Average Trading Volume: 1,546,543
Technical Sentiment Signal: Buy
Current Market Cap: $1.44B
See more insights into SFL stock on TipRanks’ Stock Analysis page.