BUZZ-<a href="https://laohu8.com/S/BORR">Borr Drilling</a> gets 'neutral' rating as Citigroup starts coverage ** Citigroup starts coverage on oilfield services provider Borr Drilling BORR.N with "neutral" rating, PT $3.25
** New price target represents a ~6% upside to the stock's last close
** "Following ~18 months of moderation, we see stability ahead, but a stronger crude price backdrop is likely needed for rate inflation" - Citigroup
** Brokerage says that M&A could accelerate deleveraging, but adds "that path isn’t clear at the moment"
** 4 of 8 brokerages rate the stock "buy" or higher, 4 "hold"; their median PT is $2.8 - data compiled by LSEG
** As of last close, stock down 21% YTD
(Reporting by Dharna Bafna in Bengaluru)
((Dharna.bafna@thomsonreuters.com))
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