Duncan Williams Upgrades Transocean (RIG) from Reduce to Strong Buy Based on Valuation
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Price: $5.92 -1.5%
Rating Summary:
12 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Duncan Williams upgraded Transocean (NYSE: RIG) from Reduce to Strong Buy.
Duncan analyst says, "With the stock trading slightly above book value of $67, trading at over a 16 percent discount to the group on a P/E basis for 2011, over a 9 percent discount to the group on a P/E basis for 2012, and anticipated increasing earnings going forward, we believe the current stock price should be an excellent entry point for investors. Our 2011 and 2012 earnings estimates remain $5.60 per share and $6.20 per share, respectively. We believe the leading offshore driller in the group has a tremendous upside at present stock price levels and have placed a STRONG BUY on Transocean."
For more ratings news on Transocean click here and for the rating history of Transocean click here.
Shares of Transocean closed at $71.20 yesterday.
Duncan analyst says, "With the stock trading slightly above book value of $67, trading at over a 16 percent discount to the group on a P/E basis for 2011, over a 9 percent discount to the group on a P/E basis for 2012, and anticipated increasing earnings going forward, we believe the current stock price should be an excellent entry point for investors. Our 2011 and 2012 earnings estimates remain $5.60 per share and $6.20 per share, respectively. We believe the leading offshore driller in the group has a tremendous upside at present stock price levels and have placed a STRONG BUY on Transocean."
For more ratings news on Transocean click here and for the rating history of Transocean click here.
Shares of Transocean closed at $71.20 yesterday.
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