Cowen analyst Marc Bianchi expects offshore rig and vessel oversupply to last through 2018 or perhaps longer, which he expects will keep offshore rig demand anemic and keep pushing offshore supply vessel utilization and dayrates lower. Citing this view, the analyst cut his price targets for all offshore drillers and supply vessel companies under his coverage and downgraded Atwood Oceanics (ATW), Noble Corp (NE), Hornbeck Offshore (HOS) and Tidewater (TDW) to Market Perform from Outperform. Other stocks on which Bianchi cut his targets include Diamond Offshore (DO), Ensco (ESV), Rowan Companies (RDC), Transocean (RIG) and Seadrill (SDRL).