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Fly News Breaks for October 10, 2018
RDC, RIG, ESV
Oct 10, 2018 | 07:31 EDT
UBS analyst Sasha Sanwal said investor sentiment has improved markedly on offshore driller and sees scale as being the key value driver from both an efficiency and marketing and contracting perspective. The analyst believes the companies with the largest footprint will capture the greatest "value" and thus likes the Ensco (ESV)/Rowan (RDC) combination along with Transocean (RIG) being the likely preferred investment options. Sanwal raised the price target on Ensco to $12 from $8 and on Rowan to $26.50 from $17.
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