Barclays lowered the firm’s price target on Transocean to $6 from $7 and keeps an Equal Weight rating on the shares following the Q4 results. The analyst says that with high-priced multi-year contracts come high upfront costs. good news is that the costs should be largely limited to 2023, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on RIG:
- Transocean reports Q4 adjusted EPS (49c), consensus (21c)
- Transocean Ltd. Reports Fourth Quarter and Full Year 2022 Results
- Transocean options imply 8.6% move in share price post-earnings
- Transocean downgraded to Equal Weight from Overweight at Barclays
- Transocean VP Tonnel sells over $300K in shares