Valaris price target raised to $62 from $55 at Citi

Citi analyst Scott Gruber raised the firm’s price target on Valaris (VAL) to $62 from $55 and keeps a Neutral rating on the shares. The firm says the offshore drillers have become “noticeably more positive” on recent calls due to new contract signings. However, low crude prices could still delay any inflection and could weigh on rates, the analyst tells investors in a research note.