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Global Hunter Securities Reiterates Buy Rating, $54 PT on Atwood Oceanics

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In a report published Friday, Global Hunter Securities reiterated its Buy rating and $54.00 price target on Atwood Oceanics (NYSE: ATW).

Global Hunter noted, “The stock remains one of our favorite core fundamentals longs. The company continues to execute at the top of its peer group and fully funded fleet growth should materially change the earnings profile of the company beginning in 2013 but more dramatically felt in 2014 and 2015. With just modest revisions to our estimates we are maintaining our Buy rating and $54 price target, which applies a ~10x multiple to our CY 2013 EPS estimate of $5.44.”

Atwood Oceanics closed on Thursday at $43.59.

Latest Ratings for ATW

DateFirmActionFromTo
Feb 2017ParetoUpgradesHoldBuy
Jan 2017CitigroupUpgradesSellNeutral
Dec 2016RBC CapitalDowngradesSector PerformUnderperform

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