Goldman Sachs Upgrades Seadrill Ltd. (SDRL) to Neutral

Goldman Sachs upgraded Seadrill Ltd. (NYSE: SDRL) from Sell to Neutral.

Analyst Henry Tarr said, "We upgrade Seadrill to Neutral From Sell following sharp underperformance. The stock fell 18% yesterday (November 26) after the company suspended its dividend distributions due to the challenging market conditions. By cutting the dividend the company will improve its balance sheet and now has good visibility through 2015 with c.90% of floater capacity contracted. Seadrill is trading close to replacement cost and to the peer group on 2015E EV/EBITDA."

For an analyst ratings summary and ratings history on Seadrill Ltd. click here. For more ratings news on Seadrill Ltd. click here.

Shares of Seadrill Ltd. closed at $15.99 yesterday.

You May Also Be Interested In

• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$231 at Bernstein SocGen
• Nokia OYJ (NOKIA:FH) (NOK) PT Raised to EUR18 at JPMorgan
• Marvell (MRVL) PT Raised to $345 at B.Riley, bullish on new CEO