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JP Morgan Slashes Targets For Offshore Drilling Companies (DO, ESV, RIG, NE, PDE)
Monday, May 24, 2010 - 10:35am | 262JP Morgan Chase has lowered its target price and earnings estimates for various offshore drilling companies, including Diamond Offshore (NYSE: DO), Ensco plc (NYSE: ESV), Noble Corp (NYSE: NE), Transocean Ltd. (NYSE: RIG) and Pride International Inc. (NYSE: PDE). The Deepwater Horizon, which was...
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J.P. Morgan Lowers Transocean (RIG) Price Target To $80
Monday, May 24, 2010 - 10:30am | 191J.P. Morgan analysts J. David Anderson, Adam Aron and Samantha Hoh maintained their Neutral rating for shares of Transocean Ltd (NYSE: RIG) and lowered the price target to $80 per share, down from the previous price target of $87. The analysts noted that Transocean Ltd had been hit hard by...
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J.P. Morgan Lowers Pride International (PDE) Price Target To $30
Monday, May 24, 2010 - 10:20am | 187J.P. Morgan analysts J. David Anderson, Adam Aron and Samantha Hoh maintained their Neutral rating for shares of Pride International Inc (NYSE: PDE) and lowered their price target to $30 per share, down from the previous price target of $33. The analysts said that among the offshore drillers...
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J.P. Morgan Lowers Noble (NE) Price Target To $42
Monday, May 24, 2010 - 9:59am | 192J.P. Morgan analysts J. David Anderson, Adam Aron and Samantha Hoh maintained their Neutral rating for shares of Noble Corporation (NYSE: NE) and lowered the price target to $42 per share, down from the previous price target of $49. The analysts said that half of the Noble Corporation jackup fleet...
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J.P. Morgan Lowers Ensco (ESV) Price Target To $52
Monday, May 24, 2010 - 9:49am | 146J.P. Morgan analysts J. David Anderson, Adam Aron and Samantha Hoh maintained their Overweight rating for shares of Ensco plc (NYSE: ESV) and lowered their price target to $52 per share, down from the previous price target of $60. Although the analysts agreed with Ensco plc's high exposure to the...
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J.P. Morgan Lowers Diamond Offshore Drilling (DO) Price Target To $79
Monday, May 24, 2010 - 9:40am | 164J.P. Morgan analysts J. David Anderson, Adam Aron and Samantha Hoh maintained their rating of Underweight for shares of Diamond Offshore Drilling Inc (NYSE: DO) and lowered the price target to $79 per share, down from the previous price target of $87 per share. The analysts said that although the...
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Company News for May 24, 2010 - Corporate Summary
Monday, May 24, 2010 - 9:36am | 185• Campbell Soup (NYSE:CPB) posted fiscal third quarter earnings of 54 cents a share, up from Zacks estimates of 51 cents versus break 48 cents a year earlier on inline revenues of $1.8 billion • IBM (NYSE:IBM) announced plans to buy Sterling Commerce from AT&T (NYSE:T) for $1.4 billion • ...
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FBR Capital Upgrades RIG To Outperform
Monday, May 24, 2010 - 6:39am | 50Analysts at FBR Capital upgrade Transocean (NYSE: RIG) from "market perform" to "outperform." The target price for RIG is set to $87. RIG’s shares gained 2.12% to close at $59.24 on Friday. More Analyst Ratings here
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Market Doesn’t Show Much Faith in Transocean (NYSE: RIG) Court Filing
Tuesday, May 18, 2010 - 8:44am | 1474Last Thursday, Transocean Ltd. (NYSE: RIG), who owned and operated the Deepwater Horizon drilling rig, filed a petition requesting to limit their legal liability to $27 million. Basically, the rig is considered a maritime vessel and this goes back to the Limitation of Liability Act of 1851, which...
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Trends Still In Favor Of HP
Monday, May 17, 2010 - 10:40am | 191Analysts at Collins Stewart reiterate their "buy" rating on Hewlett-Packard (NYSE: HP). The target price for HP is set to $65. Collins Stewart has higher revenue estimates for HP, in comparison with the Street expectations, as “the upside will be driven by printing, servers and PCs along with...
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HP: Attractive Entry Point For Investors
Monday, May 17, 2010 - 10:36am | 183Analysts at Brean Murray initiate coverage of Hewlett-Packard Co (NYSE: HP) with a "buy" rating. The target price for HP is set to $60. Brean Murray considers HP as an undervalued asset given “(1) its valuation (10x our FY10 EPS estimate), (2) our belief there is upside to Street EPS, and 3) our...
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International Sales Increasingly Supply Earnings Growth 05-14-2010
Friday, May 14, 2010 - 6:57pm | 853Cusick's Corner In 2009 the Euro averaged around $1.39 and many US companies created profit targets based somewhat around that level (some higher, some lower and not all are hedging the exchange rates). Now that the Euro (ECM10) is currently around 1.24 and has dropped over 13% since the beginning...
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Get On Board With Goldman Sachs
Friday, May 14, 2010 - 3:09am | 171What company is the happiest in the world for the BP oil spill? The answer is Goldman Sachs (GS). Since the oil spill in the Gulf of Mexico, the federal government and national media have shifted their attention to the offshore oil drillers. With Transocean (RIG) and BP (BP) in the crosshairs of...
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Get On Board With Goldman Sachs
Friday, May 14, 2010 - 3:09am | 171What company is the happiest in the world for the BP oil spill? The answer is Goldman Sachs (GS). Since the oil spill in the Gulf of Mexico, the federal government and national media have shifted their attention to the offshore oil drillers. With Transocean (RIG) and BP (BP) in the crosshairs of...
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Buyers Take a Breather 05-13-2010
Thursday, May 13, 2010 - 6:48pm | 683Cusick's Corner Reported jobless claims today did not fall as much as expected. Analysts would like to see the jobless claims fall faster because that would be a sign of more hiring on Main Street. So buyers were taking a breather today and the SPX failed to push through the 1173 level with...