Citi Reiterates Rowan Hold

Citi reiterated its Rowan (RDC) Hold rating in a research report published today. Citi has previously given Rowan a $45 price target. In the report, Citi states, "Near-term catalysts include securing three-year contracts with Saudi Aramco on 116-Cs in the Middle East and the divestiture of its 30 land rigs. We reiterate our Hold (2S), however, as these have been well-telegraphed by RDC." Shares of Rowan were trading at $38.64 at the time of posting, up 1.50% from Wednesday's market close.