UPDATE: Wunderlich Securities Reiterates Hold On Transocean

In a report published Tuesday, Wunderlich Securities analyst Todd Scholl reiterated a Hold rating on Transocean RIG and reiterated a price target of $51.00. In the report, Wunderlich Securities says "Yesterday, Transocean (RIG) reported a slightly negative fleet status report for November. This report saw net downtime increase slightly in both 2013 and 2014 but, more important, noted that the Deepwater Discovery is now idle, having yet to secure a new contract. On a positive note, the Discoverer Enterprise secured a contract extension for work in the US Gulf of Mexico with BP (BP-NR). The company also noted that it has sold the GSF Rig 127." Transocean closed on Monday at $54.23.
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Posted In: Analyst ColorReiterationAnalyst RatingsTodd SchollWunderlich Securities
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