Deutsche Bank Starts Ocean Rig UDW (ORIG) at Buy; Good Optionality; Balance Between Visibility and Upside

Deutsche Bank initiates coverage on Ocean Rig UDW (NASDAQ: ORIG) with a Buy. PT $22.00.

Deutsche analyst said, "As one of only two pure-play deepwater drillers, ORIG is a unique play on both improving near-term fundamentals and one of the best secular growth stories in the industry. With a fleet of six high quality rigs and an additional three newbuilds to be delivered in 2013, ORIG has both one of the youngest and the most targeted fleets in the industry. ORIG is well positioned to benefit from rising deepwater dayrates and limited near-term supply growth."

For an analyst ratings summary and ratings history on Ocean Rig UDW click here. For more ratings news on Ocean Rig UDW click here.

Shares of Ocean Rig UDW closed at $15.92 yesterday.

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