Oil’s price may lift another boat?

We sleuthed out a teaser about Trico Marine many moons ago — actually, almost exactly a year ago, on May 16, 2007. It was a recommendation by Andrew Mickey at Breakaway Investor, and on the whole it has been “dead money” since then, the share price is right about where it was a year ago, with some notable dips inbetween.

I note it today because it was featured in Kopin Tan’s column in Barron’s this weekend — their pending takeover of DeepOcean in Norway will expand the business and make them more of a subsea services company than a towboat operator, and it will also get them away from full reliance on the Gulf of Mexico business, which has tended to be worse than global oil services lately.

One analyst has a $52 price target on the shares now (Randy Laufman from Imperial Capital), and says it deserves a higher multiple now — shares are about $38 now, they’ll probably get a boost from the Barron’s article, but maybe not as big a boost as usual since it’s a holiday weekend.

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