Williams Financial Group Starts Diamond Offshore (DO) at Hold; Premiun May Not Be Warranted
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Price: $13.01 --0%
Rating Summary:
8 Buy, 17 Hold, 14 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
Rating Summary:
8 Buy, 17 Hold, 14 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
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Williams Financial Group initiates coverage on Diamond Offshore (NYSE: DO) with a Hold. PT $72.00.
Analyst, Matt Beeby, said, "Diamond has historically traded at a premium and continues to do so, particularly on a P/E basis. With competitors starting the upgrade process earlier and subsequently operating newer fleets, we believe the DO premium is not warranted. We do note, however, that the stock provides the best yield within our coverage and has substantial cash flow to add further newbuilds. We believe the stock is currently near fair value and rate shares Hold. Short-term investors could play DO on a pullback for upside surprise into the quarter, while long-term, yield seeking investors may also consider DO."
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 $65.81 yesterday.
Analyst, Matt Beeby, said, "Diamond has historically traded at a premium and continues to do so, particularly on a P/E basis. With competitors starting the upgrade process earlier and subsequently operating newer fleets, we believe the DO premium is not warranted. We do note, however, that the stock provides the best yield within our coverage and has substantial cash flow to add further newbuilds. We believe the stock is currently near fair value and rate shares Hold. Short-term investors could play DO on a pullback for upside surprise into the quarter, while long-term, yield seeking investors may also consider DO."
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 $65.81 yesterday.
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