Goldman Sachs Upgrades a Number of Oil Stocks (CAM, RIG, DO, FTI)
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More News related to Downgrades
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Goldman Sachs maintains its Attractive rating on oil service/drilling sector, but is further shifting their preference toward "oily" stocks versus "gassy."
The firm no longer expects early-cycle high beta stocks with US natural gas leverage to outperform.
Upgraded
- Cameron International Corporation (NYSE: CAM) from Neutral to Conviction Buy, $42 target.
- Transocean Ltd. (NYSE: RIG) from Neutral to Buy, $107 target
- Diamond Offshore Drilling Inc. (NYSE: DO) from Sell to Neutral, $103 target
- FMC Technologies, Inc. (NYSE: FTI) from Sell to Neutral, $51 target
- Halliburton Company (NYSE: HAL) from Buy to Neutral, $28 target. Removed from Conviction Buy List
- Nabors Industries Ltd. (NYSE: NBR) from Buy to Sell, $17 target.
- Oil States International Inc. (NYSE: OIS) from Neutral to Sell, $29 tgt
- Patterson-UTI Energy Inc. (Nasdaq: PTEN) from Buy to Neutral, $15 tgt
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