Market Overview

UPDATE: Imperial Capital Re-Initiates Coverage on Ocean Rig UDW with Outperform Rating, $19.50 PT

Share:
Related ORIG
Raymond James: Ocean Rig Has 'Near Perfect' Revenue Efficiency, But Shares Now Fairly Valued
Morning Market Gainers
Why Ocean Rig (ORIG) Could Be Positioned for a Surge? - Tale of the Tape (Zacks)

In a report published Wednesday, Imperial Capital re-initiated coverage on Ocean Rig UDW (NASDAQ: ORIG) with an Outperform rating and $19.50 price target.

Imperial Capital noted, “We are assigning an Outperform rating to the ORIG common stock and establishing a one-year price target of $19.50, based on 11.5x our 2013 adjusted EBITDA estimate of $545mn. The contract backlog of approximately $4.5bn provides strong earnings visibility; ORIG earnings should begin to improve in the second half of 2013 and improve substantially in 2014 as the on-the-water fleet increases to nine vessels from its current size of six.”

Ocean Rig UDW closed on Tuesday at $17.47.

Latest Ratings for ORIG

DateFirmActionFromTo
May 2015Standpoint ResearchInitiates Coverage onBuy
Apr 2015Global HunterInitiates Coverage on
Nov 2014Guggenheim SecuritiesDowngradesBuyNeutral

View More Analyst Ratings for ORIG
View the Latest Analyst Ratings

Posted-In: imperial capitalAnalyst Color Initiation Analyst Ratings

 

Related Articles (ORIG)

Around the Web, We're Loving...