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.

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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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