Iberia Capital downgraded Hornbeck Offshore Services (HOS) with a new share price target that suggests the New York-listed stock has further to plunge.
The New Orleans capital markets brokerage's analyst Trey Stolz dropped his rating of the offshore vessel owner's shares to "underperform" from "sector perform", effectively a move to "sell" from "neutral", after the company reported a deeper-than-expected second-quarter loss.
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