Jefferies Revised Target Prices for Offshore Drilling Stocks

We discussed in the previous article that UBS upgraded most of the offshore drilling stocks. In this article, we’ll look at Jefferies’ revised target prices for these drillers in the week ending September 29, 2017.

Jefferies raised the target price for Rowan Companies (RDC) to $13 and maintained a “hold” rating. The consensus 12-month target price for RDC is $13.56. Compared to the current market price of $12.85 as of September 29, the target price implies a potential upside of 5.5%.

Jefferies raised the target price for Ensco (ESV) to $6 and maintained a “hold” rating. The consensus 12-month target price for ESV is $8.1. Compared to the price of $5.9 on September 29, the target price implies a potential upside of 35.7%.

Jefferies raised its target price for Noble (NE) to $6. The consensus 12-month target price for NE is $4.46. Compared to the price of $4.6 on September 29, the target price implies a potential downside of 3%.

Jefferies raised the target price for Diamond Offshore (DO) to $14. The consensus 12-month target price for DO is $12.9. Compared to the price of $14.5 on September 29, the target price implies a potential downside of 11%.

Jefferies raised the target price for Transocean (RIG) to $10.5. The consensus 12-month target price for Transocean is $10.97. Compared to the price of $10.7 on September 29, the target price implies a potential upside of 2%.