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Danske Bank lowers target price for Seadrill and Borr Drilling to NOK 1

Danske Bank Markets estimates that several rig companies are on a "mission impossible" and "in deep trouble" after the oil price collapse. Several rig companies see their target price reduced to just NOK 1.

Photo: PR/Seadrill

The oil price collapse could become the load that pushes major rig companies such as Seadrill and Borr Drilling over the edge, projects Danske Bank Markets in a new analysis.

The bank's dire forecast for the overall rig sector is illustrated by, among other things, the fact that the bank has lowered its target prices for rig companies Seadrill, Borr Drilling and Awilco Drilling to just NOK 1 (USD 0.09).

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