Transocean (RIG) High Level of Revenue Efficiency "New Norm"
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Price: $52.31 --0%
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade RIG Now!
Jefferies maintained a Buy rating on Transocean (NYSE: RIG) and boosted its price target to $60.00 (from $57.00).
Commenting on Transocean's Q3 results, analyst Brad Handler said "We think solid operations in 3Q, good revenue efficiency guidance and management's tone all support our view that the day-to-day should get 'better'."
Handler thinks the fact that management was willing to put forth guidance that called for average revenue efficiency of 93 percent through 2013 suggests that "3Q's 94.3% revenue efficiency, while probably exceptionally good, is not far off what should be the new norm".
Jefferies raised Q4 2012 EPS estimates to $0.75 from $0.70 and 2013 estimates to $4.80 from $4.35.
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 $48.64 yesterday, with a 52 week range of $38.21-$59.03.
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Commenting on Transocean's Q3 results, analyst Brad Handler said "We think solid operations in 3Q, good revenue efficiency guidance and management's tone all support our view that the day-to-day should get 'better'."
Handler thinks the fact that management was willing to put forth guidance that called for average revenue efficiency of 93 percent through 2013 suggests that "3Q's 94.3% revenue efficiency, while probably exceptionally good, is not far off what should be the new norm".
Jefferies raised Q4 2012 EPS estimates to $0.75 from $0.70 and 2013 estimates to $4.80 from $4.35.
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 $48.64 yesterday, with a 52 week range of $38.21-$59.03.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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