Ensco (ESV) Gets Positive Coverage in Barron's
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This weekend an article in Barron's called attention to offshore driller Ensco (NYSE: ESV). The London-based company operates 70 rigs and is the second-largest offshore driller. Barron's said the stock was compelling and might climb $10 to $70 per share.
Barron's also pointed out that Ensco trades at a low multiple relative to Transocean (NYSE: RIG), its main competitor in deepwater drilling. Barron's thinks demand for deep water drilling will increase and says the Ensco is poised to benefit.
Shares of Ensco last traded at $61.19 in pre-open trading, up 0.5%.
Barron's also pointed out that Ensco trades at a low multiple relative to Transocean (NYSE: RIG), its main competitor in deepwater drilling. Barron's thinks demand for deep water drilling will increase and says the Ensco is poised to benefit.
Shares of Ensco last traded at $61.19 in pre-open trading, up 0.5%.
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