Credit Suisse Upgrades Transocean (RIG) to Neutral

September 23, 2016 7:02 AM EDT
Get Alerts RIG Hot Sheet
Price: $10.42 -1.61%

Rating Summary:
    10 Buy, 26 Hold, 10 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Credit Suisse upgraded Transocean (NYSE: RIG) from Underperform to Neutral with a price target of $8.00 (from $5.00).

Analyst Gregory Lewis commented, "While RIG still has a lot of work to do, management has been extending duration, and more importantly we expect RIGs diverse footprint and relationships to drive more work its way (RIG has won ~25% of floater rig years tendered YTD)."

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 $9.65 yesterday.

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