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Fly News Breaks for September 18, 2018
RIG
Sep 18, 2018 | 17:29 EDT
Morgan Stanley analyst Connor Lynagh initiated Transocean with an Overweight rating and a price target of $15 as part of his broader research note on Oil Services Drilling/Equipment industry. The analyst cites the company's "hedged position" for a slower North America activity in the short run with a "meaningful contract backlog". Lynagh is also positive on Transocean's "efforts in consolidating the deepwater market" along with the scale of its "high-spec deepwater assets".
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