5 Best Stocks to Buy According to Don Morgan’s Brigade Capital

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1. Valaris Limited (NYSE:VAL)

Brigade Capital’s Stake Value: $25,922,000

Percentage of  Brigade Capital’s 13F portfolio: 2.9%

Number of  Hedge Fund Holders: 40

Valaris Limited (NYSE:VAL) is an offshore contract drilling company that serves the international oil and gas sector. The firm has a fleet of 56 offshore drilling rigs, which includes 11 drill ships, 4 dynamically positioned semisubmersible rigs, 1 moored semisubmersible rig, and 40 jackup rigs.

BTIG analyst Gregory Lewis on June 1 increased his price objective on Valaris Limited (NYSE:VAL) from $60 to $80 and maintained a Buy recommendation on the stock. According to the 13F filings for the second quarter of 2022, Brigade Capital had around 613,690 shares of Valaris Limited (NYSE:VAL), totaling more than $25.92 million and accounting for 2.9% of the fund’s portfolio.

By the end of the second quarter of 2022, 40 hedge funds owned Valaris Limited (NYSE:VAL), up from 39 hedge funds the previous quarter. Alec Litowitz and Ross Laser’s Magnetar Capital is one of the biggest stakeholder of the company with an approximately $953.61 million investment.

You can also take a look at the Top 10 Stock Picks of Mark Kleiman’s Factorial Partners and Top 10 Stock Picks of Minerva Advisors.

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