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Fly News Breaks for February 25, 2016
RIG
Feb 25, 2016 | 06:46 EDT
Credit Suisse analyst Gregory Lewis missed Q4 earnings driven by higher than expected OPEX and SGA. The analyst said Transocean's and the industry's contract terminations will remain across the industry calling into question backlogs and the timing of a recovery. As a result, Lewis lowered his price target on Transocean shares to $5 from $10 and maintains his Underperform rating.
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