Transocean downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Transocean and others in the Offshore Drilling sector citing the possibility for rate cuts amid downtime between contracts. The firm lowered its price target range for shares to $43-$45 from $54-$56.
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.