Standpoint Research Downgrades ENSCO International Plc (ESV) to Hold; Taking Profits...Looking at GTE

Standpoint Research downgraded ENSCO International Plc (NYSE: ESV) from Buy to Hold.

Analyst, Ronnie Moas, said, "Ensco, an open recommendation of ours from 2006, has hit our $55 price target. On the two-year chart, ESV is +30% versus +20% for the S&P-500, minus 10% for Nabors Industries (NYSE: NBR), minus 30% for Diamond Offshore (NYSE: DO), and minus 40% for Transocean (NYSE: RIG). We can no longer leave our highest recommendation attached to this name given the recent absolute and relative gains (and given the major indices being where they are). The shares have also outperformed the S&P-500, NBR, DO and RIG since our 2006 recommendation."

"We got some good news from Gran Tierra Energy (NYSE: GTE) this morning, for whoever is looking for an idea to replace ESV. We are leaving one driller on our recommended list and that is Diamond Offshore (from 31-January 2011). There will be sharp y/y moves in ESV revenues and EPS in 2013 versus 2012 as the Pride International integration takes place."

For an analyst ratings summary and ratings history on ENSCO International Plc click here. For more ratings news on ENSCO International Plc click here.

Shares of ENSCO International Plc closed at $55.17 yesterday.

---

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

---

You May Also Be Interested In

• William Blair Downgrades Enovix Corporation (ENVX) to Market Perform
• CJS Securities Downgrades Varex Imaging (VREX) to Market Perform
• Reddit to join S&P 500 index on Aug. 18, shares leap