Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Offshore drillers surge after UBS upgrades top names, sector

Published 09/25/2017, 02:32 PM
Updated 09/25/2017, 02:32 PM
© Reuters.  Offshore drillers surge after UBS upgrades top names, sector
  • Offshore drillers are surging after UBS analysts upgraded the sector to Buy from Neutral and several prominent names in the group, pointing to signs of improving demand for oil rigs and stabilization in the sector.
  • UBS sees utilization for drillships and jack-up rigs improving slightly next year and followed by greater demand growth in 2019-20, after weak oil prices have weighed on demand for offshore drilling services for three years, and believes a normalizing of oil prices in 2020-21 as well as measures taken to push out debt payments bolster the case for the companies.
  • The firm upgrades Transocean (RIG +7.9%), Rowan (RDC +5.4%), Ensco (ESV +9.4%), Noble Corp . (NE +9.8%) and Diamond Offshore (DO +10.9%) to Buy from Neutral while raised its forecasts for 2018 earnings before certain expenses in the space by ~25%.
  • Now read: Noble Ownership: Significant Accumulation


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.