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UPDATE: Credit Suisse Upgrades Transocean on Positive Outlook

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Benzinga's Top Upgrades, Downgrades For May 17, 2017
Earnings Scheduled For May 3, 2017

In a report published Thursday, Credit Suisse analyst Gregory Lewis upgraded the rating on Transocean Ltd. (NYSE: RIG) from Neutral to Outperform, and reiterated the $60.00 price target.

In the report, Credit Suisse noted, “We are upgrading RIG to Outperform from Neutral. Our $60 target price points to ~30% upside. We believe RIG is washed out at current levels and the bifurcation of 4/5th gen rigs is finally baked into forward earnings. We expect management's cost cutting initiative to push margins higher (currently industry low). RIG also has a 5% dividend yield (3rd highest among the drillers) and we believe it is sustainable.”

Transocean Ltd. closed on Wednesday at $45.39.

Latest Ratings for RIG

DateFirmActionFromTo
May 2017Odeon CapitalInitiates Coverage OnSell
Apr 2017FearnleysUpgradesReduceBuy
Feb 2017Credit SuisseUpgradesNeutralOutperform

View More Analyst Ratings for RIG
View the Latest Analyst Ratings

Posted-In: Credit Suisse Gregory LewisAnalyst Color Upgrades Analyst Ratings

 

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