Analysts confident in drilling market despite heavy losses

There is money to be made at the world's major rig companies, although both results and stock prices have been pressured during 2019, according to several analysts. It is only a matter of time before this turns around, Senior Analyst Janne Kvernland of Nordea Markets elaborates to ShippingWatch.

Photo: Maersk Drilling

Although several of the world's largest rig companies have in recent months presented major deficits and suffered heavy blows to their market value, analysts remain unworried. These apparently hold strong confidence that several industry heavyweights are headed for better times, shows a review made by ShippingWatch of analyst recommendations for several major rig companies.

Among the positive quants is Janne Kvernland, rig analyst at Nordea Markets, who, among other things, gives a buy recommendation for Norway's Seadrill, which lost 87.1 percent of its market value during the past year.

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