Jefferies Reiterates Buy on Rowan Cos. (RDC) Despite Shares Being Down

Jefferies reiterates a Buy rating and $27.00 price target on Rowan Companies (NYSE: RDC) as shares are down 19% since most recent peak. Analyst Eduardo Royes believes that near-term company developments could skew slightly negative.

Royes commented, "RDC shares are down 19% since their most recent peak versus SMid-cap peers down 27%; since its 2015 trough it is up 12% versus peers up 2%. We believe near-term company developments could skew slightly negative and thus shares could give back some outperformance, but RDC’s leverage to niche assets and the “right” customers, in our view, as well as compelling valuation keep us positive on shares over the medium-term."

For an analyst ratings summary and ratings history on Rowan Companies click here. For more ratings news on Rowan Companies click here.

Shares of Rowan Companies closed at $19.45 yesterday.

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