Clarksons Platou Securities has upgraded Hornbeck Offshore Services (HOS) to a buy as the Gulf of Mexico (GoM) shakes off its "Dead Sea" tag.
Turner Holm, managing director of equity and credit research, said there are "better times on the bayou ahead" for the company.
"After three and a half years with a largely sceptical view of HOS equity, we are upgrading the stock to buy amidst nascent signs of a turn in Gulf of Mexico fundamentals."
