Anastasia Yakovleva Investment Thesis We believe that dayrates will increase thanks to robust demand for offshore rigs and supply constraints. Consequently, we expect sequential increases in realized dayrates for Seadrill (NYSE:SDRL) starting in the 4Q24, as older contracts will have rolled off. We estimate SDRL's fair value at $79 per share (base case), assuming the stock will trade at 8x EV/EBITDA. Investment risks include lower oil demand due to decarbonization measures in the long run and out-of-ser ...