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Fly News Breaks for March 28, 2016
ATW
Mar 28, 2016 | 05:41 EDT
Barclays analyst J. David Anderson downgraded Atwood Oceanics to Underweight saying he sees "unimpeded downside" in the shares after pushing out his offshore recovery assumptions by another year. Anderson now assumes currently idle rigs will not work until 2018 and that rigs coming off contract between now and then have a 25% success rate of being extended/recontracted. He cut his price target for Atwood shares to $6 from $7.
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