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Transocean (RIG -1.7%) shares are lower despite Goldman Sachs' upgrade following "noteworthy...

Transocean (RIG -1.7%) shares are lower despite Goldman Sachs' upgrade following "noteworthy underperformance" vs. offshore drilling peers. Although RIG operates one of the oldest fleets in the industry and may continue to face downtime and cost issues, the firm thinks "risk-reward has recently come more into balance" and expects RIG to beat Q3 consensus estimates.
Comments (4)
  • Crude Oil Trader
    , contributor
    Comments (309) | Send Message
     
    Transocean (RIG -1.7%) shares are lower despite Goldman Sachs' upgrade following "noteworthy underperformance" vs. offshore drilling peers. Although RIG operates one of the oldest fleets in the industry and may continue to face downtime and cost issues, the firm thinks "risk-reward has recently come more into balance" and expects RIG to beat Q3 consensus estimates.
    26 Sep 2012, 11:27 AM Reply Like
  • chopchop0
    , contributor
    Comments (3131) | Send Message
     
    RIG is such a broken stock and has been stuck in the 40-50 range forever. Got out at the recent rally up to 55 and haven't looked back.
    26 Sep 2012, 12:38 PM Reply Like
  • saratogahawk
    , contributor
    Comments (1576) | Send Message
     
    RIG will be a totally reconfigured company by the end of the year. Focused on deepwater drilling, liability and risk coming off the table. Will crush non-GAAP Q3 estimates (although good will charges will be in play). 2013 could show very large profit increases and I am betting the resolution of Macondo with no or minimal net impacts beyond what they have already reserved. New CFO from SDRL will add new credibility. Most recert and bop work will be done. 2013 could be a real banger for RIG.
    26 Sep 2012, 01:07 PM Reply Like
  • hyenah1
    , contributor
    Comments (3) | Send Message
     
    Hyenah1

     

    Transocean (RIG) is a value stock if there ever was one. Upside is almost certain for those with a bit of patience. Transocean is still the gold standard in the deep water arena. To think that they will not benefit from the growing demand for deep water crude is foolish and shortsighted. I'm in complete agreement with Saratogahawk; he is spot on!
    26 Sep 2012, 10:26 PM Reply Like
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