Erickson Air-Crane signs helicopter services contract worth $11M-$14M Erickson Air-Crane Incorporated has signed a contract with oil and gas company Pacific Rubiales Energy to provide heavy lift helicopter services in central Peru. Operations commenced on January 2, and will last for a minimum of 12 months. The contract has a value of between $11M-$14M, depending on total flight hours completed.
News For EAC From The Last 14 Days
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Erickson price target lowered to $20 from $28 at DA Davidson DA Davidson cut its price target on Erickson after the company reported lower than expected Q2 EPS. The firm thinks the company continues to face near-term headwinds and expects the stock to be weak today. However, it thinks new contract announcements could provide a catalyst for the shares and keeps a Buy rating.