UPDATE: Dahlman Rose Downgrades Ensco International to Hold on Valuation
In a report published Monday, Dahlman Rose downgraded its rating on Ensco International (NYSE: ESV) from Buy to Hold.
Dahlman Rose noted, “We are downgrading Ensco to Hold from Buy. Our fair value estimate of $66 per share is based on an EV/EBITDA multiple of 6.5x on our estimated 2014 EBITDA estimate of $3.05 billion. We are maintaining our 2013 EPS estimate of $8.00 per share. The stock has just 5% appreciation to our fair value estimate.”
Ensco International closed on Friday at $63.72.
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