Market Overview

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

Share:
Related DO
Kinder Morgan, Seattle Genetics And Others Insiders Have Been Buying
Top 4 Mid-Cap Stocks In The Oil & Gas Drilling & Exploration Industry With The Highest EPS
Transocean slides after fleet status report shows another rig termination (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
Feb 2015BMO CapitalInitiates Coverage onUnderperform
Feb 2015Deutsche BankMaintainsSell
Feb 2015Zephirin UpgradesHoldBuy

View More Analyst Ratings for DO
View the Latest Analyst Ratings

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

 

Related Articles (DO)

Around the Web, We're Loving...