HMH Holding initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of HMH Holding (HMH) with an Outperform rating and $27 price target The company offers “mission-critical” drilling equipment, pressure control systems, and aftermarket services for the global oil and gas and mining industries, the analyst tells investors in a research note. The firm says the visibility into the offshore recovery continues to improve and the recent offshore driller consolidating transaction “just reinforces the view that the next cycle is nearing.”