Transocean downgraded to Neutral from Outperform at Macquarie Macquarie downgraded Transocean due to full valuation, a peak in dayrates, an expected correction in Brent crude, and limited near-term catalysts. Price target cut to $58 from $63.
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.