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Fly News Breaks for November 19, 2019
VAL
Nov 19, 2019 | 20:09 EDT
Deutsche Bank analyst Chris Snyder initiated coverage of Valaris with a Hold rating and a $4 price target. The analyst notes that the company became the largest provider of offshore drilling rigs after merging with Atwood in 2017, but expects the recovery in the offshore markets to be "slow and laborious" with "fiercely competitive" pricing, as operators keep the rigs "hot" while waiting for "better days ahead".
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