Offshore Logistics, Inc., through its Air Logistics division and with
its investment in Bristow Aviation Holdings Limited, is a major supplier
of helicopter transportation services to the worldwide offshore oil and
gas industry.
On 11/14/97 Salomon Ups Offshore Logistics To Buy From Hold
NEW YORK -- Salomon Brothers Inc. analyst Geoff Kieburtz raised his
rating on Offshore Logistics Inc. (OLOG) to buy from hold.
Kieburtz said the company had an upbeat conference call earlier this
week, in which it said its rates for helicopter transport to and from
offshore drilling sites are going up, with a 10% price hike effective
Nov. 1 and two more increases likely in 1998.
The analyst said he raised his earnings estimate for the fiscal year
ending March 1999 to $2.00 a share from $1.75.
Kieburtz set a 12-month price target on the stock of 30 to 32. Recently,
the shares were trading at 21 3/8, up 1. |
