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Fly News Breaks for February 20, 2019
RIG
Feb 20, 2019 | 07:35 EDT
Barclays analyst J. David Anderson double upgraded Transocean to Overweight from Underweight and raised his price target for the shares to $10 from $8. The analyst says that while it has been a while since he's recommended owning the offshore oilfield service names, after almost five years of a downturn, a "transformed" offshore industry is "starting to emerge." He expects 2019 to be a transition year with 2020 "setting up to be the start of a multi-year growth trajectory." He views shares of Transocean as undervalued at current levels.
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