Stifel Nicolaus Raises Price Target on Transocean (RIG) to $154
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Stifel Nicolaus raises its price target on Transocean, Inc. (NYSE: RIG) from $131 to $154 and reiterates its Buy rating.
The firm raised EPS estimates to reflect the merger between Transocean and GlobalSanteFe (NYSE: GSF). FY08 EPS estimates are raised from $11.56 to $12.69.
Transocean, Inc. provides offshore contract drilling services for oil and gas wells.
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