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EVA Dimensions Upgrades Diamond Offshore

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Nov. 20 2020, Updated 12:06 p.m. ET

Recent updates

EVA Dimensions upgraded Diamond Offshore (DO) to “overweight” from “hold” on September 13, 2016. Scotia Howard initiated coverage on Diamond Offshore on September 14. It gave a “sector perform” rating and a target price of $17.

Scotia Howard also initiated coverage on offshore drillers (OIH) Rowan (RDC), Atwood Oceanics (ATW), Transocean (RIG), and Noble (NE). It gave a rating of “sector perform” for these companies. Only Ensco (ESV) has been given a “sector outperform” rating by Scotia Howard.

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Analyst recommendations

Diamond Offshore Drilling (DO) is covered by 35 Wall Street analysts. Of those, 6% gave it a “buy” recommendation, 57% recommended a “hold,” and 37% recommended a “sell.” Diamond Offshore’s target price is $18.08, which implies an upside potential of 16%.

RBC Capital Markets has issued Diamond Offshore the highest target price of $23. Its lowest target price, $12, came from Spare Bank.

Price target

In September, many analysts reduced their target prices for Diamond Offshore:

  • Evercore decreased the target price to $22 from $25
  • DNB Markets reduced the target price to $13 from $15
  • Susquehanna Financial reduced the target price to $18 from $24
  • Goldman Sachs reduced the target price to $18.50 from $24
  • UBS reduced the target price to $17 from $24
  • Seaport Global Securities reduced the target price to $18 from $23
  • Clarksons Platou reduced the target price to $17 from $24
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