W&T Offshore gains after Roth Capital initiates coverage with a Buy rating, citing stronger balance sheet and acquisition potential.
W&T Offshore (WTI) climbed 2.8% in Tuesday’s session after Roth Capital resumed coverage with a Buy rating and a $4.25 price target. The firm highlighted the company’s improved balance sheet and reduced leverage as key drivers for growth through offshore acquisitions.
Prior to the upgrade, WTI had traded near $3.80, reflecting investor caution amid volatile energy markets. Roth’s outlook contrasts with earlier skepticism about the company’s debt levels and expansion strategy.
Shares reacted positively to the rating, extending gains in midday trading as investors weighed the potential for strategic deals in the sector.