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Analysts Revised Target Prices for RIG, RDC, and NE

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Revisions

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

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.

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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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