Tidewater shares hit 52-week highs after strong Q2 results despite Middle East conflict costs.

Tidewater, a leading offshore support vessel provider, reported second-quarter results that exceeded management's expectations, driving its shares to new 52-week highs. However, increased costs due to the ongoing Middle East conflict and delays in acquiring Wilson Sons in Brazil led to a slight reduction in full-year guidance. Despite these challenges, management remains optimistic about the industry's future, expecting day rates to reach multi-year highs by 2027. The analyst raised the price target from $99.00 to $107.50 and reaffirmed a "Buy" rating based on anticipated higher profitability.