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 announces intention to delist from SIX Swiss Exchange Transocean announced its intent to delist its shares from the SIX Swiss Exchange. The company expects the SIX listing authorities to approve its delisting application prior to year-end and the related delisting to occur in Q1. The company will remain incorporated in Switzerland and its shares will continue to be listed and traded on the New York Stock Exchange.