Citi reiterated its Transocean RIG Buy rating in a research report published today. Citi has previously given Transocean an $81 price target.
In the report, Citi states, "The jackup contracts are a positive follow-though on favorable utilization trends in the lower-end of the asset class spectrum, although none of the higher-impact floaters received new contracts other than those previously announced. We believe downtime increases should be expected as the fleet adjusts to a post- Macondo environment and transitions to greater activity."
Shares of Transocean were trading at $52.76 at the time of posting, down 6.62% from Wednesday's market close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in