Barclays Maintains an 'Overweight' on Seadrill Ltd. (SDRL); Another Dividend Increase; Adjusting Estimates

Barclays maintains an 'Overweight' on Seadrill Ltd. (NYSE: SDRL), PT $43.

Barclays analyst says, "We continue to view Seadrill as one of the most attractive offshore drillers due to the company's strong contract backlog, high quality asset base, attractive dividend yield, capital markets prowess and continued focus on growing its high spec fleet. In a market that is searching for yield, we believe Seadrill stands out as a preferred investment."

"We are modestly lowering our 2011 EPS estimate to $3.00 (from $3.10) to reflect the increased share count from new shares issued on the 2012 convertible bond and the recent fleet status update. We are maintaining our 2012 EPS estimate of $3.55 reflecting a stronger dayrate outlook for deepwater rigs offset by the higher share count."

For more ratings news on Seadrill Ltd. click here and for the rating history of Seadrill Ltd. click here.

Shares of Seadrill Ltd. closed at $35.99 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer