UPDATE: Bank of America Raising Price Target On ENSCO

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Bank of America Merill Lynch is out with a research report on ENSCO (NYSE: ESV) and is raising its price target to $69 from $67, and keeping its Buy rating on shares.In a note to clients, Bank of America Merill Lynch writes, "We are increasing our 2011/2012/2013 EPS estimates to $3.72/$6.15/ $6.30 from $3.69/$5.95/$6.05 owing primarily to contract extensions on the ENSCO 5002 and ENSCO 5004 at higher-than-expected dayrates, partially offset by new downtime on a few jackups. We are increasing our PO to $69 (implies 11x 2013E EPS) from $67."Shares of ESV lost $1.17 yesterday to close at $42.32.

27% profit every 20 days?

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