Shares of Diamond Offshore Drilling Inc DO have gained more than 19 percent since the year started and about 62 percent from its January lows. The Vetr crowd seems to think there’s still room for upside left, as evidenced by its average price target of $27.55, which implies a potential return of roughly 10.3 percent from current valuations.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
Seeking to better reflect this upside potential, the community decided to upgrade its rating on Diamond’s stock on Tuesday, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
It should be noted that 58 percent of the crowd's ratings are still bearish, meaning that bulls, while still less than bears, are very optimistic.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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