FBR Capital Reiterates a 'Outperform' on ENSCO International (ESV); Favorite Drilling Stock
ESV Hot Sheet
Rating Summary:23 Buy, 4 Hold, 0 Sell
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FBR Capital reiterates a 'Outperform' rating on ENSCO International (NYSE: ESV) (our favorite drilling stock) and raise our price target to $56.00 from $49.00.
FBR analyst says, "Shares should continue to realize support from the global increase in jackup activity, while a strong cash balance leaves further room for growth. Diamond Offshore Drilling (NYSE: DO) is growing its fleet at the right time, but shares remain at a fair valuation. Noble Corporation (NYSE: NE) should experience support for the jackup market as well, and we are adjusting our price target upward to $45.00 from $41.00."
To see more analyst ratings on ESV Click Here.
ENSCO International Incorporated, together with its subsidiaries, provides offshore contract drilling services to the oil and gas industry.
FBR analyst says, "Shares should continue to realize support from the global increase in jackup activity, while a strong cash balance leaves further room for growth. Diamond Offshore Drilling (NYSE: DO) is growing its fleet at the right time, but shares remain at a fair valuation. Noble Corporation (NYSE: NE) should experience support for the jackup market as well, and we are adjusting our price target upward to $45.00 from $41.00."
To see more analyst ratings on ESV Click Here.
ENSCO International Incorporated, together with its subsidiaries, provides offshore contract drilling services to the oil and gas industry.
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