- Diamond Offshore (DO +1%) is upgraded to Equal Weight from Underweight with a $57 price target, up from $47.50, at Morgan Stanley, which says earnings risk has largely played out and shares have an attractive yield.
- The cycle is turning and floater availability has peaked, the firm believes, expecting trading to be driven increasingly by the reduction of floater availability through a pickup in fixtures rather than the confirmation of negative data points on dayrates.
- Stanley sees negative sentiment on the offshore drillers group reversing to the extent that ballooning floater availability is absorbed from upcoming contract announcements.
- Also: ATW +1.4%, HERO +1%, NE +0.8%, ESV +0.8%, RDC +0.5%, RIG +0.4%.
From other sites
at CNBC.com (Jan 16, 2015)
at CNBC.com (Jan 6, 2015)
at CNBC.com (Dec 31, 2014)
at CNBC.com (Dec 16, 2014)
at CNBC.com (Dec 3, 2014)
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