Transocean (RIG +4%) moves higher for a second day as a "significant valuation recalibration" is...

|About: Transocean Ltd. (RIG)|By:, SA News Editor

Transocean (RIG +4%) moves higher for a second day as a "significant valuation recalibration" is in order for shares now that most of the uncertainty about potential Deepwater Horizon liabilities has been resolved. RIG shares that lost half their value since the April 2010 blowout are undervalued and "highly attractive" at current prices, Barclays says. The settlement also could bode well for BP (BP +1%).