Susquehanna upgraded Transocean to Positive from Neutral with a price target of $9, up from $5.50. The analyst says favorable crude prices support international, and particularly offshore, activity growth heading into the Q1 oilfield services earnings reports. Higher crude prices could stimulate some U.S. activity a bit more quickly, the analyst tells investors in a research note. The firm cites rising demand for the ultra-deepwater market, supply constraints, and pricing momentum for the upgrade of Transocean.
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