Barclays Raises Estimates & PT on Transocean (RIG); Trend is a Friend
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Price: $52.31 -2.04%
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade RIG Now!
Barclays maintains an 'Overweight' on Transocean (NYSE: RIG) price target of $77.00 (from $75.00).
Analyst, James C. West, said, "Transocean released another positive fleet status report, highlighted by lower downtime expectations and numerous favorable extensions at higher dayrates. RIG is currently our favorite offshore driller due to substantial leverage to rising dayrates and compelling valuation (~65% NAV/share versus the group at ~95%, ex-SeaDrill (Nasdaq: SDRL) and Hercules (Nasdaq: HERO)). Clarity on its Macondo liability and progress on non-core asset divestitures offer further catalysts in the coming months, in our view."
West raises FY13 EPS estimate from $4.65 to $4.80.
For an analyst ratings summary and ratings history on Transocean click here. For more ratings news on Transocean click here.
Shares of Transocean closed at $48.02 yesterday, with a 52 week range of $38.21-$60.09.
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Analyst, James C. West, said, "Transocean released another positive fleet status report, highlighted by lower downtime expectations and numerous favorable extensions at higher dayrates. RIG is currently our favorite offshore driller due to substantial leverage to rising dayrates and compelling valuation (~65% NAV/share versus the group at ~95%, ex-SeaDrill (Nasdaq: SDRL) and Hercules (Nasdaq: HERO)). Clarity on its Macondo liability and progress on non-core asset divestitures offer further catalysts in the coming months, in our view."
West raises FY13 EPS estimate from $4.65 to $4.80.
For an analyst ratings summary and ratings history on Transocean click here. For more ratings news on Transocean click here.
Shares of Transocean closed at $48.02 yesterday, with a 52 week range of $38.21-$60.09.
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