Global Hunter Securities Upgrades Transocean (RIG) to Neutral, but Still Not Enticed To Own
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Price: $5.76 --0%
Rating Summary:
12 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 17 | New: 20
Rating Summary:
12 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 17 | New: 20
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Global Hunter Securities upgraded Transocean (NYSE: RIG) from Reduce to Neutral, price target lowered from $46 to $43.
Global analyst says, "We are upgrading RIG and revising our price target to $43, applying a 10x multiple to our 2013 EPS estimate ($4.28) following yesterday's fleet status report, the recent 29.9MM share offering and $2.5B in debt placements. Despite the upgrade, our thesis remains unchanged -- we would not put money to work in the name until operational results show sustainable improvement and headline risks associated with the Brazilian and Macondo oil spills abate."
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 $39.41 yesterday.
Global analyst says, "We are upgrading RIG and revising our price target to $43, applying a 10x multiple to our 2013 EPS estimate ($4.28) following yesterday's fleet status report, the recent 29.9MM share offering and $2.5B in debt placements. Despite the upgrade, our thesis remains unchanged -- we would not put money to work in the name until operational results show sustainable improvement and headline risks associated with the Brazilian and Macondo oil spills abate."
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 $39.41 yesterday.
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