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Fly News Breaks for March 1, 2016
RIG
Mar 1, 2016 | 07:41 EDT
Canaccord upgraded Transocean to Hold from Sell following Q4 results. The firm felt the results showed impressive resilience in one of the worst downturns to affect the drilling industry. Canaccord believes the negative industry outlook is now in the price and feels its balance sheet strength is far better than perceived. Canaccord lowered its price target to $8.50 from $10 on Transocean shares.
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