FBR Capital Reiterates a 'Outperform' on ENSCO International (ESV); Favorite Drilling Stock
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FBR Capital reiterates a 'Outperform' rating on ENSCO International (NYSE: ESV) (our favorite drilling stock) and raise our price target to $56.00 from $49.00.
FBR analyst says, "Shares should continue to realize support from the global increase in jackup activity, while a strong cash balance leaves further room for growth. Diamond Offshore Drilling (NYSE: DO) is growing its fleet at the right time, but shares remain at a fair valuation. Noble Corporation (NYSE: NE) should experience support for the jackup market as well, and we are adjusting our price target upward to $45.00 from $41.00."
To see more analyst ratings on ESV Click Here.
ENSCO International Incorporated, together with its subsidiaries, provides offshore contract drilling services to the oil and gas industry.
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