TD Cowen lowered the firm’s price target on Helix Energy (HLX) to $11 from $13 and keeps a Buy rating on the shares. The firm said its The 2Q miss and 2nd negative FY guidance revision was disappointing but the risk/reward here is very favorable and they believe patient investors will be vindicated. Despite the recent bad news there were new awards in the UK North Sea and Shallow Water markets while Robotics continues to build on a strong outlook.
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