Civeo price target lowered to $27 from $28 at Stifel

Stifel analyst Stephen Gengaro lowered the firm’s price target on Civeo (CVEO) to $27 from $28 and keeps a Buy rating on the shares. Civeo delivered slightly better-than-expected Q1 EBITDA, trimmed 2025 guidance, and altered its capital return program as it committed to using 100% of its free cash flow to buy back 20% of its shares outstanding and suspended the dividend, the analyst notes. The firm, which believes a focus on buybacks aligns with major shareholders’ desires, notes that it is modestly lowering 2025-26 estimates.