- Transocean (RIG +3.3%) is upgraded to Hold from Sell with a $45 price target at Deutsche Bank, which says shares feel over-sold, particularly with near-term catalysts on the horizon.
- The firm sees some potential near-term catalysts with self-help initiatives and improved return to shareholders, including progress on an MLP, but the backdrop remains challenging as newbuild rates and the jackup market likely will roll lower later this year, which is likely to temper any enthusiasm.
- Meanwhile, shares are reiterated with a Hold rating at Argus, concerned that RIG is more exposed than peers to deteriorating conditions in the offshore drilling market (Briefing.com).
From other sites
at CNBC.com (Mar 19, 2015)
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at CNBC.com (Jan 5, 2015)
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