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

|By:, SA News Editor

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.