Dahlman Rose Out With An Update On Offshore Drilling (ATW, RIG, DO, ESV, NE, PDC, RIG, SDRL)

Dahlman Rose & Co. is out with its weekly industry report this morning on the Offshore Drilling sector and has some positive things to say. In the report, Dahlman Rose states, "Transocean's earnings update was a mixed bag of good news and bad news. Management disclosed Swiss authorities are delaying its dividend payout and also that BP has not indemnified Transocean from the Macondo well-leak. The good news however was its extension of an UDW rig at a very strong $450,000/day." Dahlman Rose rates shares of Atwood Oceanics ATW A Buy and has $40 price target. Transocean RIG is rated a Hold with no price target. Shares of Diamond Offshore DOare also rated Hold. eNSCO ESV is rated a Buy with a $52 price target. Noble NE is rated a Buy with a $42 target. Pride PDC is rated a Hold and has no price target. Seadrill SDRL is rated a Buy with a $30 price target.