Duncan Williams Upgrades Transocean To Strong Buy (RIG)

Duncan Williams has upgraded its rating on Transocean RIG from a Reduce to Strong Buy in a research report published today. In the report, Duncan Williams states, “With the stock trading slightly above book value of $67, trading at over a 16 percent discount to the group on a P/E basis for 2011, over a 9 percent discount to the group on a P/E basis for 2012, and anticipated increasing earnings going forward, we believe the current stock price should be an excellent entry point for investors.” The target price for Transocean's shares was set to $93. Transocean closed on Wednesday at $71.2, down 1.11% on the previous day's value.