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How Offshore Drilling Stocks Performed Last Week

PART:
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Part 3
How Offshore Drilling Stocks Performed Last Week PART 3 OF 3

Analysts Revised Target Prices for RIG, RDC, and NE

Revisions

In the week ending November 10, 2017, analysts revised target prices for Transocean (RIG), Rowan Companies (RDC), and Noble (NE).

Analysts Revised Target Prices for RIG, RDC, and NE

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Simmons raised the target price of Transocean to $7.8 from $7.35. Simmons also raised the target price of Rowan Companies to $16.5 from $15. RBC raised the target price of RDC to $16 from $14. UBS also raised the target price of Rowan Companies to $18 from $15. Jefferies reduced the target price for Noble to $5 from $6.

Previous week

In the week ending November 3, many analysts revised target prices for offshore drillers:

  • Zephirin Group downgraded Rowan Companies to “sell” and reduced the target price to $10 from $14. Susquehanna raised the target price for RDC to $14 from $12. Jefferies maintained a “hold” rating on RDC and raised the target price to $15 from $13.
  • Bernstein raised the target price for Transocean to $11 from $10. Susquehanna raised the target price for RIG to $10 from $9.
  • UBS raised the target price for Diamond Offshore (DO) to $19 from $15. Susquehanna raised the target price for DO to $16 from $14. Wells Fargo raised the target price to $15 from $12. RBC maintained a “sector perform” rating on DO and raised the target price to $17 from $15. Jefferies maintained a “hold” rating and raised DO’s target price to $15 from $14.

In the week ending October 27, 2017, Ensco’s (ESV) target price was revised by Credit Suisse and Evercore. Also, credit rating agency S&P revised its rating for Ocean Rig (ORIG).

For more updates on the offshore drilling space, visit Market Realist’s offshore drilling page.

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