Canaccord Genuity Reiterates a 'Buy' on Atwood Oceanics (ATW); On the Road with Management

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January 19, 2012 8:45 AM EST
Get Alerts ATW Hot Sheet
Price: $9.32 --0%

Rating Summary:
    5 Buy, 16 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Atwood Oceanics (NYSE: ATW) price target of $55.00.

Analyst, Scott Burk, said, "We marketed with Atwood this week. The growth story remains intact and we reiterate our rating and target."

"Rapid earnings growth into 2014. Based on recent contracts and client interest, management expects rates of ~$140k/day for its three newbuild jackups and greater than $500k/day for its two drillships delivering in 2013 and 2014. At those rates, the five newbuilds would add ~$4.79 to EPS by 2015."

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

Shares of Atwood Oceanics closed at $44.62 yesterday.

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