Wells Fargo Initiated Coverage on Transocean (RIG) with an Outperform'; Down But Not Out
RIG Hot Sheet
Rating Summary:17 Buy, 9 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Last night, Wells Fargo initiated coverage on Transocean (NYSE: RIG) with an Outperform rating. Valuation range $70-72.
Wells analyst said, "We believe RIG has been oversold as a result of the uncertainty of direct and indirect liabilities stemming from the Macondo oil spill, estimating the current price incorporates over $5B in liabilities; we think it will be less than $1B. RIG is trading at a 20% discount to our NAV estimate including a $1B spill liability."
To see all the upgrades/downgrades on shares of RIG, visit our Analyst Ratings page.
Shares fell $1.60 yesterday to close at $53.05. The 52-wk trading range is $41.88 - 94.88.
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Wells analyst said, "We believe RIG has been oversold as a result of the uncertainty of direct and indirect liabilities stemming from the Macondo oil spill, estimating the current price incorporates over $5B in liabilities; we think it will be less than $1B. RIG is trading at a 20% discount to our NAV estimate including a $1B spill liability."
To see all the upgrades/downgrades on shares of RIG, visit our Analyst Ratings page.
Shares fell $1.60 yesterday to close at $53.05. The 52-wk trading range is $41.88 - 94.88.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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