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Fly News Breaks for March 16, 2017
DO
Mar 16, 2017 | 09:40 EDT
Raymond James analyst Praveen Narra called a Brazilian court ruling on the side of Diamond Offshore (DO) in the case of the Ocean Valor termination with Petrobras (PBR) a "surprise" and upped his EBITDA estimates for FY17 and FY18 based on the decision. He expects the stock to react positively to the news, but maintains a Market Perform rating on Diamond citing the current point in the offshore cycle. Diamond Offshore shares are up 1.7% to $15.64 in early trading.
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