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Transocean (RIG +1.2%) is maintained with a Buy rating but a higher $60 price target at...
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Tuesday, November 6, 2012, 12:27 PM ETTransocean (RIG +1.2%) is maintained with a Buy rating but a higher $60 price target at Jefferies, which thinks strong Q3 results support its optimism. The fact that RIG was willing to put forth guidance that called for average revenue efficiency of 93% through 2013 suggests Q3's 94.3% efficiency, while "exceptionally good, is not far off what should be the new norm."
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