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