Seadrill price target raised to $33 from $28 at BTIG

BTIG analyst Gregory Lewis raised the firm’s price target on Seadrill (SDRL) to $33 from $28 and keeps a Buy rating on the shares as part of a broader research note on Offshore Oil Services names. There has been a flight to quality trade in offshore services over the last year, though the firm still views the ongoing slow down in drilling activity as a pause in the cycle, with 7G utilization still firm and at premium pricing versus 6G floaters, the analyst tells investors in a research note.