Market Overview

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

Share:
Related DO
Barclays Sees Trouble For Offshore Drillers
Earnings Scheduled For August 3, 2015
Tracking Mason Hawkins' Southeastern Asset Management Portfolio - Q2 2015 Update (Seeking Alpha)

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
Aug 2015BarclaysMaintainsUnderweight
Aug 2015JefferiesMaintainsHold
Aug 2015BarclaysMaintainsUnderweight

View More Analyst Ratings for DO
View the Latest Analyst Ratings

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

 

Related Articles (DO)

View Comments and Join the Discussion!

Get Benzinga's Newsletters