Civeo (CVEO) shares have surged 78% since our Buy recommendation on December 26, 2018. We attribute part of the rapid price increase to a bounce after investors sold the shares heavily late last year, and part to the rebound in oil prices in recent weeks.
We think Civeo remains meaningfully undervalued and raise our Buy limit to 2.50.
We are raising our Buy limit on Civeo shares (CVEO) to 2.50.
Disclosure: Accounts managed by an affiliate of the Publisher, and an employee of the Publisher, own CVEO shares.