Oppenheimer Maintains Ensco Rating And PT

Oppenheimer announced that it is maintaining its Outperform rating and $57 PT on shares of Ensco plc ESV. “We project Ensco will almost double EPS from 2010 to 2012 with its 8500 series newbuilds, with upside to our numbers if the 8504/8505/8506 get contracts in excess of our estimated ~$400K/day,” Oppenheimer writes. “Shares trade in line with peers despite superior growth.” Ensco currently trades at $48.18.