Information Provided By: 
Fly News Breaks for June 14, 2019
RIG
Jun 14, 2019 | 07:06 EDT
Citi analyst Scott Gruber downgraded Transocean to Neutral from Buy and cut his price target for the shares to $6.70 from $11. The analyst says his organic cash burn analysis implies the drillers will burn cash until "at least" 2021. His base case has floater utilization remaining below 70% by 2022, "well below the level needed to see significant pricing power."
News For RIG From the Last 2 Days
