Morgan Stanley lowered the firm’s price target on Transocean (RIG) to $4 from $5 and keeps an Equal Weight rating on the shares. While the firm agrees that upstream activity risks have increased year-to-date, there are some offsetting factors to consider, as the market is overly pushing what it views as oilfield science and energy stocks but not fully appreciating more diversified energy S&E stocks. The firm reiterated its preference for exposure to portfolios that have relatively outsized duration and defensive/diverse characteristics offering idiosyncratic growth opportunities.
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Read More on RIG:
- Transocean price target lowered to $3.50 from $4.50 at Citi
- Transocean (RIG) Sees a Silver Lining in the Gulf of America, but Analysts Are Wary
- Transocean upgraded to Hold from Sell at SEB Equities
- Transocean price target lowered to $4 from $4.50 at Barclays
- Transocean Ltd. Reports Positive Q4 Earnings with Strategic Focus
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