Barclays Maintains an 'Overweight' on Rowan Companies (RDC); Takeaways From Analyst Day

Barclays maintains an 'Overweight' on Rowan Companies (NYSE: RDC) price target of $46.00.

Analyst, James C. West, said, "Management reiterated robust jackup market conditions, highlighted various opportunities for the three uncontracted ultra-deepwater drillships under construction, and outlined some new supply chain, safety, and optimization programs, as well as a roadmap to $7 per share in earnings."

West thinks the company has better financial flexibility referring to the recent bond offering...and noted that talk of a dividend reinstatement circulated.

For an analyst ratings summary and ratings history on Rowan Companies click here. For more ratings news on Rowan Companies click here.

Shares of Rowan Companies closed at $30.55 yesterday.

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