SEB Equities Downgrades Borr Drilling Limited (BORR) to Hold from Buy with a $5.45 Price Target

Borr Drilling Limited (NYSE:BORR) is one of the 11 Best High Volume Penny Stocks to Buy Now. On March 11, 2026, SEB Equities analyst Kim Andre Uggedal downgraded Borr Drilling Limited (NYSE:BORR) to Hold from Buy with a $5.45 price target, citing valuation and saying the recovery in the jack-up market is already reflected in the share price.

On March 9, 2026, Borr Drilling provided an operational update following hostilities in the Arabian Gulf, where the company has four jack-up rigs deployed across Saudi Arabia, the UAE, and Qatar. Three rigs in Qatar and the UAE were down-manned as a precaution, while the Arabia III was shut down after an incident on a customer-operated platform, with all personnel safely evacuated. CEO Bruno Morand said ensuring safety remains the company’s “highest priority,” noting that operations will stay on standby until conditions allow for a safe restart. The company added that all four rigs remain under contract and insured.

SEB Equities Downgrades Borr Drilling Limited (BORR) to Hold from Buy with a $5.45 Price Target

Young boy at water pump / well. Samba Diallo, age 7. Sansacoto Village.

Last month, Borr Drilling reported Q4 revenue of $259.4M versus the $240.06M consensus estimate and a net loss of $1.0M, improving by $28.8M from Q3. Adjusted EBITDA was $105.2M, down $30.4M sequentially. The company said operational performance remained “solid,” supported by high utilization rates, while revenue declined due to sanctions-related contract terminations and lower day rates on transitioning rigs. Management added that demand is gradually recovering, particularly in the Middle East, with a growing pipeline of long-term tenders and expectations for improving market conditions into the second half of 2026.

Borr Drilling Limited (NYSE:BORR) provides offshore shallow-water drilling services to the oil and gas industry across multiple global regions.

While we acknowledge the risk and potential of BORR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BORR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None.  Follow Insider Monkey on Google News.