(Editors' Note: Northern Offshore trades on the Oslo exchange, symbol NOF.OL, with average daily volume of NOK 923 Thousand.)
Northern Offshore (OTCPK:NFSHF), an offshore drilling company, has moved higher by 11% in the last one month. There is a strong fundamental factor supporting the recent upside and the same factor can potentially trigger another 56% upside in the stock with an 18-month time horizon. This research note discusses the factor for stock re-rating, the expected revenue and EBITDA for the next two years and the valuation compared to peers.
Northern Offshore is a provider of contract drilling equipment and operating services for offshore oil and gas companies. As of January 2014, the company had...
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