Trico Marine Rated As Strong Buy

Thursday, September 28, 2000
Deutsche Banc Alex.Brown said on Thursday that it had started coverage of Trico Marine Services Inc., an energy services provider, with a strong buy rating and a $20-a-share price target. Trico shares closed at $16-1/16 on Wednesday.

Deutsche Banc Alex Brown analysts said shares could rise from earnings leverage due to offshore oil rig use in the Gulf of Mexico and the North Sea, expanded deep-water markets of West Africa and Brazil, a projected earnings recovery, and a share price that trades at a discount to its peers.

Trico is expected to report a loss of $.63 a share in 2000 and earn a profit of $.67 a share in 2001, Deutsche Banc Alex.Brown said in a research note.

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