UPDATE: Dahlman Rose Downgrades Rowan Companies to Hold

In a report published Monday, Dahlman Rose & Co. downgraded its rating on Rowan Companies

from Buy to Hold. Dahlman Rose noted, “We are downgrading RDC to Hold based on our international jackup model that indicates marketed utilization is probably peaking at 92% currently and could decrease to 88% by YE-'13. We believe jackup dayrates are likely to lose the upward momentum from 2012 and could start to see modest pressure later in 2013.” Rowan Companies closed on Friday at $32.41.