Transocean (RIG) Shares Offer Strong Upside Potential - Barron's
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Barron's reports there are only a few oilfield services companies who can offer upside potential like shares of Transocean (NYSE: RIG) does.
Shares of RIG are only trading up slightly on the day to $39.37, which is real close to their 52-week low of $38.21. Shares closed down 1.5 percent on January 6 after management announced the resignation of the company's chief financial officer, Ricardo Rosa, after just two years on the job.
Although shares of RIG were one of the worst performing energy names of 2011, Barron's sees solid upside when looking ahead to their positive outlook for global-exploration spending on offshore drilling rigs.
Barron's is not the only one who is bullish on shares of RIG, an analyst at Dahlman Rose, James Crandell, forecasts Transocean's earnings will double between 2010 and 2012.
Shares of RIG are only trading up slightly on the day to $39.37, which is real close to their 52-week low of $38.21. Shares closed down 1.5 percent on January 6 after management announced the resignation of the company's chief financial officer, Ricardo Rosa, after just two years on the job.
Although shares of RIG were one of the worst performing energy names of 2011, Barron's sees solid upside when looking ahead to their positive outlook for global-exploration spending on offshore drilling rigs.
Barron's is not the only one who is bullish on shares of RIG, an analyst at Dahlman Rose, James Crandell, forecasts Transocean's earnings will double between 2010 and 2012.
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