Transocean (Sell, TP: USD7.00) - Enthusiastic market comments
Compared to peer group market commentary and our outlook, we found its market comments on the optimistic side. While we agree on a decent market for the very high end of the harsh environment segment in Norway, including two Transocean rigs, we see no read-across to the broader deepwater market. Due to the demanding valuation, we reiterate our SELL recommendation and USD7 target price.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.