Market Overview

UPDATE: Jefferies Raises PT to $58 on Atwood Oceanics on Offshore Drilling Forecasts

Related ATW
RS Platou Downgrades Atwood Oceanics To Neutral
Benzinga's Top Downgrades

Jefferies reiterated its Buy rating on Atwood Oceanics (NYSE: ATW) and raised its price target from $56 to $58.

Jefferies commented, "We lower 3Q12 EPS estimates for our services and land drillers and make select adjustments for offshore drillers. An equipment preview is to come separately. Although North America weakness is telegraphed, we expect earnings to matter for shares. Onshore drillers likely print “better” than most Service names; near term share outperformance is expected for ATW."

Atwood Oceanics closed at $44.68 on Tuesday.

Latest Ratings for ATW

DateFirmActionFromTo
Sep 2014RS PlatouDowngradesBuyNeutral
Aug 2014Deutsche BankMaintainsHold
Aug 2014FearnleyUpgradesReduceAccumulate

View More Analyst Ratings for ATW
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (ATW)

Around the Web, We're Loving...

Get Benzinga's Newsletters