Recent Analyst Changes in Ensco’s Recommendations
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On July 7, 2017, Wells Fargo reduced the target price for Ensco to $6.00 from $10.50. On June 30, 2017, Bank of America Merrill Lynch downgraded the stock to “neutral.” Earlier in June, other analysts revised their target prices for Ensco:
- Susquehanna cut the target price to $5.00 from $9.00.
- Piper Jaffray upgraded Ensco to “overweight” from “neutral.”
According to Reuters, Ensco has a consensus rating of ~2.7, which means a “hold.” The following are consensus ratings for other offshore drilling companies (XLE):
- Noble Corporation (NE) – ~3.1, which means a “hold.”
- Seadrill (SDRL) – ~3.6, which means a “sell.”
- Diamond Offshore Drilling (DO) – ~3.2, which means a “hold.”
- Atwood Oceanics (ATW) – ~3.0, which means a “hold.”
Of the 28 analysts covering Ensco, three analysts gave “strong buy” recommendations, while eight analysts gave “buy” recommendations. Eleven analysts gave the company a “hold” recommendation. Six analysts suggested a “sell” for Ensco, and none of the analysts suggested a “strong sell” for the company.
Ensco’s average target price is $8.97, compared to its current market price of $5.09 on July 12, 2017. The target price implies a potential upside of 75.2%.
- earnings before interest, tax, depreciation, and amortization ↩