Analyst Gregory Lewis from BTIG maintained a Buy rating on SFL Corporation and increased the price target to $11.00 from $10.00.
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Gregory Lewis has given his Buy rating due to a combination of factors that highlight SFL Corporation’s strategic positioning and financial health. The company has demonstrated resilience by maintaining a steady dividend yield of approximately 10%, which is attractive to income-focused investors. Additionally, SFL’s strong balance sheet, with substantial cash reserves and liquidity, provides the company with the flexibility to pursue growth opportunities and manage its debt effectively.
Moreover, SFL’s ongoing investments in fleet efficiency and emissions reductions are expected to secure new employment and enhance the company’s competitive edge in the shipping industry. Despite challenges in the offshore drilling market, SFL’s diversified portfolio, including a significant backlog with long-term charters, provides stability and revenue visibility. These strategic moves, coupled with a favorable valuation, underpin Gregory Lewis’s confidence in SFL’s potential for future growth, justifying the Buy rating.
According to TipRanks, Lewis is a 5-star analyst with an average return of 18.9% and a 52.33% success rate. Lewis covers the Energy sector, focusing on stocks such as DHT Holdings, Frontline, and National Energy Services Reunited.