Williams Financial Group Upgrades Diamond Offshore (DO) to Buy; Midwater Concern Alleviated

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July 20, 2012 9:10 AM EDT
Get Alerts DO Hot Sheet
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
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Williams Financial Group upgraded Diamond Offshore (NYSE: DO) to Buy with a price target of $75.00.

Analyst, Matt Beeby, said, "We are upgrading shares of DO to Buy based on our new $75 price target, and given our expectation for reduced near-term headwinds, positioning for multi-year growth and success of its recent contracting strategy. Our prior concerns on the midwater market have less substance with opportunity for shallow-water floaters outside Brazil, and execution has been visible during the first two quarters of 2012, which have provided EPS well above expectations."

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 $65.71 yesterday.

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