Transocean price target raised to $7.50 from $6.50 at Susquehanna

Susquehanna raised the firm’s price target on Transocean (RIG) to $7.50 from $6.50 and keeps a Positive rating on the shares. The firm updated its estimates following Q4 results as the company posted a solid fourth quarter, highlighted by strong free cash flow of $321mn, its highest in nearly a decade, rounding out the year with $626mn generated. They also announced several contracts, including a three-well contract with BP in Brazil for Deepwater Mykonos and a six-well contract in Australia for Deepwater Skyros.