BTIG raised the firm's price target on SFL Corp. to $11 from $10 and keeps a Buy rating on the shares. The firm notes that SFL traded up after reporting Q3 earnings, with adjusted EBITDA of $113M, which came 19% above consensus of $95M. SFL maintained its 20c dividend, which represents a 41% payout of operating cash flow and points to the stock trading at a 10% annualized yield. And while SFL did not repurchase shares during Q3, BTIG notes the company also has $80M remaining under its buyback program, which runs through Q2 2026. Overall, SFL continues to invest in its fleet, while re-deliveries and a soft drilling market continue to weigh on near-term OCF, the firm adds.
