Transocean's Brazil injunction impacts EPS by 5c a week, says UBS UBS said the impact to Transocean's as a result of the Brazilian injunction to cease operations will impact EPS 5c/share per week. The firm believes there is high risk that rigs will experience downtime and that Brazilian issue will continue to be an overhang. The firm rates shares a Buy with a $70 price target.
Transocean downgraded to Market Perform from Outperform at Cowen As previously reported Cowen downgraded Transocean to Market Perform from Outperform. The firm downgraded shares given the current market weakness, relatively older fleet and below average contracts for the next two years. Price target lowered to $30 from $39.