Global Hunter Securities Downgrades Hercules Offshore (HERO) to Neutral; Continue to Like the HERO Story, But Valuation Concern
December 22, 2010 9:25 AM EST Global Hunter Securities downgraded Hercules Offshore (NASDAQ: HERO) from Buy to Neutral.
Global analyst says, "Hercules Offshore has seen an impressive upwards move in the last three weeks, with solid moves higher over each of the last four trading days (+25% total in that period). We remain positive on the HERO story, expecting that the worst of the permitting slowdown is in our rear-view, but we feel that shares have run too far too fast. We are therefore downgrading shares to Neutral."