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Fly News Breaks for June 11, 2015
ORIG, NE, DO, RIG, PACD, ATW, RDC, ESV
Jun 11, 2015 | 05:46 EDT
Barclays analyst J. David Anderson rolled out coverage of Offshore Drillers with a negative outlook, saying the "worst has yet to pass" as customers deal with the low oil price environment. The offshore rig market is heavily oversupplied, Anderson tells investors in a research note. He started shares of Ensco (ESV), Rowan Companies (RDC), Atwood Oceanics (ATW) and Pacific Drilling (PACD) with Equal Weight ratings and shares of Transocean (RIG), Diamond Offshore (DO), Noble Corp. (NE) and Ocean Rig UDW (ORIG) with Underweight ratings, the firm's sell rating equivalent. Anderson has no Overweight ratings in the space.
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