Market Overview

UPDATE: Williams Financial Group Reiterates Buy Rating, Raises PT on Atwood Oceanics

Related ATW
Earnings Scheduled For November 10, 2014
RS Platou Downgrades Atwood Oceanics To Neutral

In a report published Monday, Williams Financial Group reiterated its Buy rating on Atwood Oceanics (NYSE: ATW), and raised its price target from $57.00 to $61.00.

Williams Financial noted, “ATW reported fiscal 4Q EPS well above both our expectation and the Street's, but the stock lagged the group, perhaps with 2013 OPEX guidance bringing down estimates. The company's newbuild jackup fleet should all start operations ahead of schedule and timely drillship delivery should prove favorable with manageable staffing requirements. Debt needs peak in 2015 at about $1.8B (less than 40% debt/cap). The outlook for UDW remains robust and ATW has a remaining option due in June while the jackup fleet has a nice balance of backlog and near‐term upside potential. We are initiating 2014 EPS estimates of $5.81 and EBITDA of $645MM, which are the drivers for valuation. We are maintaining our Buy rating and increasing our price target to $61.”

Atwood Oceanics closed on Friday at $44.83.

Latest Ratings for ATW

DateFirmActionFromTo
Nov 2014Credit SuisseMaintainsNeutral
Nov 2014Credit SuisseMaintainsNeutral
Sep 2014RS PlatouDowngradesBuyNeutral

View More Analyst Ratings for ATW
View the Latest Analyst Ratings

Posted-In: Williams Financial GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (ATW)

Around the Web, We're Loving...

Get Benzinga's Newsletters