Professional
Added to YB: 2024-10-03
Pitch date: 2024-10-01
VAL [bullish]
Valaris Limited
-4.99%
current return
Author Info
Night Watch Investment Management is an alternative asset manager focused on global equities, selected based on our in-depth proprietary research. Our investment style is best described as value plus catalyst. Visit their website.
Company Info
Valaris Limited, together with its subsidiaries, provides offshore contract drilling services in Brazil, the United Kingdom, U.
Market Cap
$3.9B
Pitch Price
$56.97
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.66
P/E
9.97
EV/Sales
1.82
Sector
Energy Equipment and Services
Category
turnaround
Night Watch Investment Management Portfolio Holding: Valaris Limited
VAL (increased position): Offshore rig demand flatlined due to FPSO/subsea bottlenecks after 3yr day rate surge from $200k to $500k. Cautiously added to position despite Q3 detraction. Compelling risk-reward at current levels, but wary of doubling down on cyclicals. Expect 2-4 quarter pause in demand growth.
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