Market Overview

UPDATE: Pareto Securities Downgrades Seadrill to Hold, Reiterates $41 PT

Share:
Related SDRL
Morgan Stanley Slashes Deepwater Drillers, Says They're 'Fighting Tooth And Nail' To Stay Afloat
This Could Be Seadrill's Path To Recovery
Seadrill, North Atlantic Drilling, And Rosneft - A Long-Term View Of Perspectives In Russia (Seeking Alpha)

In a report published Wednesday, Pareto Securities downgraded its rating on Seadrill (NYSE: SDRL) from Buy to Hold, and reiterated its $41.00 price target.

Pareto noted, “Seadrill continues to outperform its peers and also delivers the best contracts and results in the industry. Since our May 16th report the return is 15% including dividends. In July the company landed 19Y of UDW contracts for 3 rigs at 540-565'USD/day. DCF valuation assuming 600'USD/day for the UDW rigs until 2017 and then 500'USD/day we end up at NOK 240 per/share. Accordingly we change our rating from BUY to HOLD.

Seadrill closed on Tuesday at $42.00.

Latest Ratings for SDRL

DateFirmActionFromTo
Mar 2015HSBCInitiates Coverage onReduce
Mar 2015Deutsche BankMaintainsHold
Dec 2014Goldman SachsDowngradesNeutralSell

View More Analyst Ratings for SDRL
View the Latest Analyst Ratings

Posted-In: Pareto SecuritiesAnalyst Color Downgrades Analyst Ratings

 

Related Articles (SDRL)

Around the Web, We're Loving...