Diamond Offshore upgraded at Global Hunter, market sentiment too one-sided

Diamond Offshore (DO +1.8%) is upgraded to Neutral from Sell with a $48 price target, up from $37, at Global Hunter.

The firm thinks market sentiment has become too one-sided against the stock even as it says it understands the bearish case: DO has an aging fleet, its 2014 rig turnover is high, contracting activity has lapsed, and Petrobras remains a source of frustration.

Still, Global Hunter believes these points are widely accepted and that potential balancing factors are disregarded.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs