Deutsche Bank Raises Estimates on Transocean (RIG); Getting Clean
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Price: $5.87 +1.91%
Rating Summary:
12 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
12 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Deutsche Bank maintains a 'Hold' on Transocean (NYSE: RIG) price target of $71.00.
Analyst, Mike Urban, said, "RIG posted a solid quarter and most offshore markets around the world are improving. Uncertainty remains, however, with costs under upward pressure and potential value creation measures potentially depenedent on resolving RIG's Macondo liability. Speaking of Macondo, RIG reserves took an additional $750MM charge (on top of $1B previously), highlighting the difficulty in quantifying the ultimate cost. Despite signficiant upside to our target, this uncertainty leads us to maintain our rating."
FY12 EPS estimate raised from $2.58 to $2.91, but FY13 remains at $4.55.
For an analyst ratings summary and ratings history on Transocean click here. For more ratings news on Transocean click here.
Shares of Transocean closed at $48.55 yesterday.
Analyst, Mike Urban, said, "RIG posted a solid quarter and most offshore markets around the world are improving. Uncertainty remains, however, with costs under upward pressure and potential value creation measures potentially depenedent on resolving RIG's Macondo liability. Speaking of Macondo, RIG reserves took an additional $750MM charge (on top of $1B previously), highlighting the difficulty in quantifying the ultimate cost. Despite signficiant upside to our target, this uncertainty leads us to maintain our rating."
FY12 EPS estimate raised from $2.58 to $2.91, but FY13 remains at $4.55.
For an analyst ratings summary and ratings history on Transocean click here. For more ratings news on Transocean click here.
Shares of Transocean closed at $48.55 yesterday.
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