Capital One initiated coverage of Borr Drilling with an Overweight rating and a $6 price target on July 1. Borr Drilling reported total operating revenues of $247.0 million for fiscal Q1 2026, a 5% decrease from the prior quarter, and a net loss of $29.0 million compared to a net loss of $1.0 million in fiscal Q4 2025. Adjusted EBITDA fell 16% to $88.5 million. The company completed the acquisition of five premium jack-up rigs from Noble Corporation in January 2026 for $360 million and entered agreements to acquire five more rigs through a new 50/50 joint venture for $287 million.
Borr Drilling Ltd
Noble Corporation plcCapital One Financial CorporationCapital One initiated coverage of Borr Drilling with an Overweight rating and $6 price target, which is a positive analyst call for the covered company, but Capital One itself is only mentioned as the analyst firm.