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Jefferies upgrades the oil service sector today, saying the offshore drilling cycle is finally...

Jefferies upgrades the oil service sector today, saying the offshore drilling cycle is finally starting to show signs of "moving beyond a simple demand recovery and closer to one featuring real, albeit modest, pricing power." The firm raises Atwood Oceanics (ATW +3.8%), Noble (NE +2.8%) and Transocean (RIG +3.1%) to buy, and reiterates Rowan (RDC +1%) and Ensco (ESV +2.1%) as its top picks.
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