BTIG raised the firm’s price target on Transocean (RIG) to $6 from $5 and keeps a Buy rating on the shares as part of a broader research note on Offshore Services names. A pickup in rig contracting is helping to de-risk 2026, the analyst tells investors in a research note, adding that despite dayrates largely trending sideways, customers continue to build out their contracted rig portfolios.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIG:
- Trump Trade: U.S. imposing 25% tariff on some chip sales amid Nvidia deal
- Sixth oil tanker seized by U.S. military, WSJ reports
- Venezuela’s PDVSA starts reversing oil production cuts, Reuters reports
- DOE releases details on U.S. marketing of Venezuelan crude oil
- Transocean price target raised to $5 from $4.50 at Susquehanna