Transocean upgraded to Neutral from Sell at Citigroup Citigroup upgraded Transocean to Neutral citing the recent pullback in shares and its belief that dayrates are close to a bottom. Citi raised its price target for shares to $41 from $38.
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.