Jefferies Revises Ratings and Target Prices for Offshore Drillers

In Week 25, which ended June 22, Jefferies downgraded one offshore driller and revised the target prices for others.

Sue Goodridge - Author
By

Jun. 26 2018, Updated 11:35 a.m. ET

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Revisions

In Week 25, which ended on June 22, Jefferies downgraded one offshore driller and revised the target prices for others.

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Week 25

On June 21, Jefferies downgraded Noble Corporation (NE) to a “hold” and reduced the target price to $5. On the same day, Jefferies raised Transocean’s target price to $15 and maintained a “buy” rating for the stock. Jefferies raised Ensco’s (ESV) target price to $6 and maintained a “hold” rating. Rowan Companies’ (RDC) target price was raised to $1.60.

None of the analysts revised their target prices or recommendations for offshore drillers in Week 24.

Week 23

In Week 23, HSBC raised Transocean’s (RIG) target price to $15.20 from $11.80 and maintained a “buy” rating. It downgraded Ensco (ESV) to a “hold” from a “buy” and raised its target price to $7.40 from $6.20. HSBC also raised Noble’s (NE) target price to $6.80 from $5.60 and maintained a “buy” rating. It maintained Diamond Offshore Drilling’s (DO) “hold” rating and increased the target price to $18.80 from $15.50.

Bernstein raised Transocean’s target price to $12 from $11. It raised Noble’s target price to $5 from $4.

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Week 22

In Week 22, Credit Suisse downgraded Noble to “neutral” from “outperform.”

Week 21

In Week 21, Wells Fargo raised Diamond Offshore Drilling’s target price to $22 from $17. It raised Ensco’s target price to $7 from $5 and raised Transocean’s target price to $13 from $11. Wells Fargo also raised Noble’s target price to $5.50 from $4.

Week 20

In Week 20, none of the analysts revised their target prices or recommendations for offshore drilling stocks.

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