Natixis Bleichroeder Upgrades Transocean (RIG) to Buy; Raising Numbers
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Price: $51.53 -0.83%
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 13
Trade RIG Now!
Natixis Bleichroeder upgrades Transocean (NYSE: RIG) to Buy.
Natixis analyst says, "In our previous update for Transocean, we had assumed lower dayrates for deepwater rigs drilling in the U.S. Gulf of Mexico based on uncertainties surrounding the Macondo incident. With the end of the deepwater moratorium, renegotiations on most contract disputes, and lack of successful force majeure proceedings, we believe that most contracts will be honored at their original contracted dayrates. Assuming BP honors its contractual indemnity with RIG, and based on Transocean's history as a premiere offshore driller, we believe that RIG is likely “out of the woods.” "
To see all the upgrades/downgrades on shares of RIG, visit our Analyst Ratings page.
The 52-wk range is $41.88 - 94.88 and shares are at $68.01, up $0.92 (+1.37%) this morning.
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Natixis analyst says, "In our previous update for Transocean, we had assumed lower dayrates for deepwater rigs drilling in the U.S. Gulf of Mexico based on uncertainties surrounding the Macondo incident. With the end of the deepwater moratorium, renegotiations on most contract disputes, and lack of successful force majeure proceedings, we believe that most contracts will be honored at their original contracted dayrates. Assuming BP honors its contractual indemnity with RIG, and based on Transocean's history as a premiere offshore driller, we believe that RIG is likely “out of the woods.” "
To see all the upgrades/downgrades on shares of RIG, visit our Analyst Ratings page.
The 52-wk range is $41.88 - 94.88 and shares are at $68.01, up $0.92 (+1.37%) this morning.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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