Revision

On May 10, Bank of America Merrill Lynch raised Ensco’s (ESV) target price to $5.5 from $3.5. On April 30, Wells Fargo reduced Ensco’s target price to $5 from $6. On April 27, Susquehanna reduced Ensco’s target price to $5 from $5.5. On April 26, Evercore reduced Ensco’s target price to $7 from $8 and maintained an “outperform” rating. Jefferies raised Ensco’s target price to $5.5 from $5 and maintained a “hold” rating.

Bank of America Merrill Lynch Revised Ensco’s Target Price

Consensus rating

According to Reuters, the consensus rating on a scale of 1 (strong buy) to 5 (strong sell) for Ensco is 2.66, which means a “hold.” Below are the consensus ratings for other offshore drillers (OIH):

  • Noble (NE): ~3.15, which means a “hold”
  • Transocean (RIG): ~2.72, which means a “hold”
  • Rowan Companies (RDC): 2.66, which means a “hold”
  • Diamond Offshore (DO): 3.45, which means a “hold”

Analysts’ recommendations

For Ensco, 32 analysts provided recommendations. Two analysts recommended a “strong buy,” 12 analysts recommended a “buy,” 13 analysts recommended a “hold,” and five analysts recommended a “sell.” None of the analysts recommended a “strong sell.”

Target price

The consensus 12-month target price for Ensco is $6.39, which implies a potential downside of 3.3% from its market price on May 14.

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