Having written about a few energy services companies over the past week
or two that appear to be undervalued, it was a little startling to run
the numbers on Tidewater (TDW)
and find a services company that actually may be overpriced. Tidewater
has a lot of positive things going for it, including a recently
remodernized fleet, operating exposure to almost every major offshore
market, and extensive expected rig deployments in the coming years. Even
so, investors have to be prepared to use a higher-than-average multiple
(or a higher expected level of EBITDA) to generate a target price that
makes these shares look cheap today.
Please continue here:
Tidewater Already Riding High On Offshore Expectations
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