Bouygues Offshore's Stock Outperforms

Morgan Stanley Dean Witter raised its recommendation today on French oil services company Bouygues Offshore to "outperform" from "neutral" and gave a price target of 55 euros ($48.47) for the stock.

"Sector outlook remains strong for 2001 in our view," said MSDW analysts, adding that valuation on Bouygues Offshore was now compelling on their estimates.

Bouygues Offshore shares were up 1.28 percent at 44.97 euros ($39.63).