Jefferies Raises Atwood Oceanics PT To $42 (ATW)

Jefferies raised its Atwood Oceanics ATW price target to $42 from $38 in a research report published today. In the report, Jefferies states, "Although ATW retains good contract cover and represents an interesting transformation story due to its substantial deepwater and jack-up newbuild program, we continue to rate ATW shares Hold primarily due to valuation." Shares of Atwood Oceanics were at $40.36 in after hours trading at the time of posting, reflecting no change from Thursday's market close.