Dahlman Rose Downgrades Seadrill Ltd. (SDRL) to Hold; Valuation Call

March 16, 2012 7:38 AM EDT Send to a Friend
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Price: $12.60 +1.94%

Rating Summary:
    4 Buy, 18 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Dahlman Rose downgraded Seadrill Ltd. (NYSE: SDRL) from Buy to Hold.

Dahlman analyst said, "We expect SDRL will benefit in the near-term from further dividend increases and improved ultra-deepwater dayrates. Additionally, we expect the floating rig market's marketed contracted utilization to increase to over 99% in 2013 causing industry-wide rig reactivations and dayrate improvement. Although there could be some upside to the current price from dividend increases, we believe the long-term sustainability of the dividend is risky given the capital structure of the company."

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 $38.01 yesterday.


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