uploads/2018/02/Analyst-Rating-1.jpg

Diamond Offshore: Target Prices after Its 4Q17 Results

By

Updated

4Q17 results

After Diamond Offshore’s (DO) 4Q17 results, many analysts revised the target prices.

Article continues below advertisement

Revisions

On February 13, 2018, UBS reduced the target price on Diamond Offshore to $20 from $22. On the same day, Simmons reduced the target price to $9.35 from $10. Citigroup reduced the target price to $12 from $13. Susquehanna reduced Diamond Offshore’s target price to $15 from $17.

On February 12, 2018, Wells Fargo reduced the target price to $17 from $18. On the same day, RBC reduced Diamond Offshore’s target price to $17 from $19 and maintained a “sector perform” rating. Evercore maintained an “outperform” rating but reduced the target price to $19 from $20. Credit Suisse reduced the target price to $14 from $15 and maintained a “neutral” rating.

Consensus rating

According to Reuters, the consensus rating on a scale of one (strong buy) to five (strong sell) for Diamond Offshore Drilling is 3.53, which means a “sell.” Below are the consensus ratings for other offshore drillers (OIH):

  • Noble (NE) – 3.15, which means a “hold”
  • Ensco (ESV) – 2.65, which means a “hold”
  • Rowan Companies (RDC) – 2.67, which means a “hold”
  • Transocean (RIG) – 2.74, which means a “hold”
Article continues below advertisement

Analysts’ recommendations

For Diamond Offshore Drilling, 32 analysts provided recommendations. None of the analysts recommended a “strong buy” for the stock, three analysts recommended a “buy,” 14 analysts recommended a “hold,” ten analysts recommended a “sell,” and five analysts recommended a “strong sell.”

Target price

The consensus 12-month target price for Diamond Offshore Drilling is $14.4, which implies a potential upside of 2.3% from its market price of $14.09 on February 13, 2018.

Advertisement

More From Market Realist