Global Hunter Securities Upgrades Atwood Oceanics (ATW) to Buy; Set to Benefit From The Turf To The Surf Movement

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February 3, 2012 10:03 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: 13 | Down: 9 | New: 24
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Global Hunter Securities upgraded Atwood Oceanics (NYSE: ATW) from Accumulate to Buy, price target raised from $47 to $56.

Analyst, Brian Ulmer, said, "As leading edge rates continue to trend higher and investors look for leverage to the high-spec market, we think ATW will warrant a premium multiple given its asset base and visible earnings growth. With most of the land-levered service companies falling in the smid-cap category and fund flows moving from the turf to the surf in 1H 2012, we think ATW will be a prime candidate for inflows given its cap size, quality fleet and top notch management."

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 $46.28 yesterday.

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