Seadrill price target raised to $55 from $50 at BTIG

BTIG raised the firm’s price target on Seadrill (SDRL) to $55 from $50 and keeps a Buy rating on the shares. While floater demand is softening in the U.S. Gulf and Brazil, rigs rolling off contracts will reposition to growing markets across Africa, Asia, and the Mediterranean, which should see the market start to tighten in 2027, the analyst tells investors in a research note. BTIG adds it remains bullish on Seadrill owing to the view that utilization and pricing will push higher over the next 2 years, which should see free cash flow inflect higher.