UPDATE: Canaccord Raises Transocean's PT

According to a research report published today, Canaccord has increased Transocean Ltd.'s RIG PT to $60. Canaccord commented in the report, “Our 2012 EPS estimates decline slightly, mostly on higher interest expense guidance, but RIG's EPS should grow steadily from breakeven levels over the next four quarters. RIG also seems close to a Macondo settlement. We maintain our HOLD rating but increase our target to $60/sh based on our estimated NAV and ~13.0x 2013E EPS.” Canaccord maintains its Hold rating on Transocean, which closed yesterday at $53.43.