Diamond Offshore price target raised to $23 from $20 at Barclays

Barclays analyst Eddie Kim raised the firm’s price target on Diamond Offshore to $23 from $20 and keeps an Overweight rating on the shares. Despite the recent selloff in offshore driller stocks, the firm remains positive on the group ahead of the “next wave of multi-year contract announcements” set to begin in Q4. The pullback presents an attractive entry point as fundamentals remain firmly intact, the analyst tells investors in a research note.