31 Jul

Jefferies and Susquehanna Revised Target Prices for Ensco

WRITTEN BY Sue Goodridge

Revision

In Week 30, which ended on July 27, analysts revised their target prices for Ensco after its second-quarter results.

Jefferies and Susquehanna Revised Target Prices for Ensco

On July 26, Jefferies raised Ensco’s target price to $8 from $7. The next day, Susquehanna raised its target price to $8 from $7.

Week 28

None of the analysts revised their target prices or recommendations for offshore drilling (OIH) stocks in Week 29. In Week 28, RBC Capital raised Noble Corporation’s (NE) target price to $7 from $6 and maintained a “sector perform” rating on the stock.

BMO raised Rowan Companies’ (RDC) target price to $15 from $13. Evercore raised Noble’s target price to $8 from $5. Susquehanna raised Diamond Offshore Drilling’s (DO) target price to $19 from $16. It raised Ensco’s (ESV) target price to $7 from $5 and Rowan Companies’ target price to $15 from $13.

Earlier revisions

In Week 27 and Week 26, none of the analysts revised their recommendations or target prices for offshore drilling companies. In Week 25, Jefferies downgraded Noble Corporation (NE) to a “hold” and reduced the target price to $5. It also raised Transocean’s target price to $15 and maintained a “buy” rating for the stock. Jefferies raised Ensco’s (ESV) target price to $6 and maintained a “hold” rating. Rowan Companies’ (RDC) target price was raised to $1.60.

None of the analysts revised their target prices or recommendations for offshore drillers in Week 24. In Week 23, HSBC raised Transocean’s (RIG) target price to $15.20 from $11.80 and maintained a “buy” rating. It downgraded Ensco (ESV) to a “hold” from a “buy” and raised its target price to $7.40 from $6.20. HSBC also raised Noble’s (NE) target price to $6.80 from $5.60 and maintained a “buy” rating. It maintained Diamond Offshore Drilling’s (DO) “hold” rating and increased the target price to $18.80 from $15.50. Bernstein raised Transocean’s target price to $12 from $11 and raised the target price to $5 from $4.

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