- Ship Finance International (SFL +4.9%) surges after Seaport Global upgrades to Buy from Neutral with an $18 price target, seeing the company "back playing offense" and ready to support its dividend growth.
- Seaport says SFLs risk/reward is increasingly attractive with several potential catalysts developing over the next few months, combined with the Seadrill restructuring behind it and already reflected in estimates.
- The firm thinks SFL boasts ample liquidity to start pursuing attractive acquisition opportunities to grow its distributable cash flow, and current backlog provides cash flow visibility and dividend support.
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Earlier: Ship Finance beats by $0.03, beats on revenue (May 31)