Jefferies Assumes Coverage on Rowan Companies (RDC) at Hold; Still Smoothing Out the Bumps
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Price: $10.93 --0%
Rating Summary:
15 Buy, 18 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 18 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies assumes coverage on Rowan Companies (NYSE: RDC) with a Hold. PT $41.00.
"Although RDC is poised to deliver peer-leading earnings growth over the next few years thanks in large part to its entry into the ultra-deepwater market, the company continues to be plagued by higher than anticipated costs and for now at least, uncertainty persists into 2013. What’s more, we believe that although the bulk of its asset repositioning years are in the rearview mirror, we see additional near-term and near-year (i.e., 2013) earnings risk from additional mobilizations and potential upgrades. We cannot deny, however, that the outlook should look meaningfully more solid beyond 2013."
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 $37.32 yesterday.
"Although RDC is poised to deliver peer-leading earnings growth over the next few years thanks in large part to its entry into the ultra-deepwater market, the company continues to be plagued by higher than anticipated costs and for now at least, uncertainty persists into 2013. What’s more, we believe that although the bulk of its asset repositioning years are in the rearview mirror, we see additional near-term and near-year (i.e., 2013) earnings risk from additional mobilizations and potential upgrades. We cannot deny, however, that the outlook should look meaningfully more solid beyond 2013."
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 $37.32 yesterday.
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