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UPDATE: Global Hunter Securities Downgrades Seadrill Ltd. (SDRL) to Accumulate

July 30, 2014 8:17 AM EDT
Get Alerts SDRL Hot Sheet
Price: $49.61 --0%

Rating Summary:
    5 Buy, 12 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 7 | New: 39
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(Updated - July 30, 2014 10:13 AM EDT)

Global Hunter Securities resumes/downgraded Seadrill Ltd. (NYSE: SDRL) from Buy to Accumulate.

Analyst Mark Brown said, "As we are resuming coverage from our prior analyst, we assign an Accumulate rating on SDRL (vs. Buy previously) with a $37 price target (vs. $41 previously) based on an 11x multiple of our 2015 EPS estimate.We value the stock at a premium multiple relative to the ~9x average of trading comps on 2015 P/E based in large part on its young and highly capable fleet (93% of floaters are sixth generation, 100% of jackups are high-spec). We also note the attractive 10% yield at current levels."

For an analyst ratings summary and ratings history on Seadrill Ltd. click here. For more ratings news on Seadrill Ltd. click here.

Shares of Seadrill Ltd. closed at $36.49 yesterday.



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