Borr Drilling (Buy, TP: NOK90.00) - All eyes on dividend comments
As jackup market strength is well understood among investors, we maintain our view that the next leg of the Borr equity story will be the distribution of cash to shareholders. For its Q1 report (moved forward to 23 May), we will look out for comments related to this topic, and the required refinancing to allow for payments to shareholders. We maintain our BUY and target price of NOK90.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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