Barclays Maintains an 'Overweight' on Transocean (RIG); DoJ Accusations Overblown; Adjusting Estimates for Debt Offering

Barclays maintains an 'Overweight' on Transocean (NYSE: RIG) price target of $64.00.

Barclays analyst says, "DoJ Accuses Transocean of "Willful Misconduct": Last week, the Department of Justice (DoJ) weighed in on Transocean's request for partial summary judgment by accusing the company of "willful misconduct" for its role in the Deepwater Horizon accident. We believe the market overreacted to the news and note that the decision on Transocean's summary judgment request is up to Judge Barbier (the judge
overseeing the multi-district litigation), not the DoJ.

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

Shares of Transocean closed at $43.26 yesterday.

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