Barclays Maintains an 'Underweight' on Diamond Offshore (DO); Raising FY12/13 Estimates of Solid Q1
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Price: $13.99 --0%
Rating Summary:
8 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Underweight' on Diamond Offshore (NYSE: DO) price target of $57.00.
Analyst, James C. West, said, "Deepwater dayrates are improving, and Diamond continues to add substantial backlog to its mid-water fleet. The company is executing well and has done a good job in mitigating unplanned downtime. However, the bifurcation between older and newer equipment continues. As a result, some of the company's rigs are becoming disadvantaged."
West mentioned that DO is making moves in the right direction as far as upgrading its fleet, but haven't moved far/fast enough to replace lost earnings power. Although, on recent fleet status reports, West raises FY12/13 EPS estimate from $3.85/$5.05 to $4.00/$5.10.
For an analyst ratings summary and ratings history on Diamond Offshore click here. For more ratings news on Diamond Offshore click here.
Shares of Diamond Offshore closed at $68.57 yesterday.
Analyst, James C. West, said, "Deepwater dayrates are improving, and Diamond continues to add substantial backlog to its mid-water fleet. The company is executing well and has done a good job in mitigating unplanned downtime. However, the bifurcation between older and newer equipment continues. As a result, some of the company's rigs are becoming disadvantaged."
West mentioned that DO is making moves in the right direction as far as upgrading its fleet, but haven't moved far/fast enough to replace lost earnings power. Although, on recent fleet status reports, West raises FY12/13 EPS estimate from $3.85/$5.05 to $4.00/$5.10.
For an analyst ratings summary and ratings history on Diamond Offshore click here. For more ratings news on Diamond Offshore click here.
Shares of Diamond Offshore closed at $68.57 yesterday.
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