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News Breaks | | | | August 19, 2012 | | 19:28 EDT |  | PRSEY | Prosafe's shares appear undervalued, Barron's contends
Prosafe (PRSEY) is a deep-value deepwater play which could offer a safe harbor to investors seeking both income and capital appreciation, Barron's says. Its semi-submersible "accommodation rigs or flotels", are not fully reflected in the share price. Prosafe's business isn't given to the volatility of the oil-service industry -- but rather tied to the industry’s mature oil rigs that have been active for at least five years and that need maintenance or updating. Prosafe bulls say the shares could rise by up to 55% over the next 12 months. It returns most of its net income to shareholders -- offering a hefty yield exceeding 7%. Reference Link | |
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