Diamond Offshore downgraded to Sell from Neutral at Global Hunter Global Hunter downgraded Diamond Offshore to Sell and reduced estimates due to lower demand for deepwater rigs and lower dayrates. The firm expects further rig deactivations in 2014 and reduced dayrates for less capable units combined with oversupply to result in idle inventory and contract gaps. Price target lowered to $38 from $61.
Diamond Offshore downgraded to Underperform from Market Perform at FBR Capital FBR Capital downgraded Diamond Offshore to Underperform on expectations utilization and day rates will remain under pressure through 2015. FBR cut its price target for shares to $24 following the company's Q1 results.