Market Overview

UPDATE: Credit Suisse Downgrades Diamond Offshore Drilling at Neutral on Risk/Reward

Share:
Related DO
Diamond Offshore Will Release Its Fleet Status Update Each Quarter, Stops Releasing Monthly
Benzinga's Top Initiations
Will Diamond Offshore (DO) Beat Earnings Estimates in Q2? - Analyst Blog (Zacks)

Credit Suisse downgraded Diamond Offshore Drilling, Inc. (NYSE: DO) from Outperform to Neutral and lowered the price target from $82.00 to $77.00.

Credit Suisse noted, "While DO has been a stellar performer (still yielding 4.8%) we believe the upside/downside skew is balanced. Bifurcation in the floater market is becoming more of a concern and midwater Brazil exposure should result in increased mobilization/downtime. We are reducing our 2013 EPS estimate to $4.74 (from 5.33) to account for potential higher downtime. We are also lowering our 2014 EPS estimate to $6.79 (from $8.67)."

Diamond Offshore Drilling closed at $73.35 on Friday.

Latest Ratings for DO

DateFirmActionFromTo
Jul 2015FBR CapitalReiteratesUnderperform
Jun 2015JefferiesMaintainsHold
Jun 2015BarclaysInitiates Coverage onUnderweight

View More Analyst Ratings for DO
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (DO)

Get Benzinga's Newsletters