by Travis Johnson, Stock Gumshoe | August 5, 2008 12:13 pm
This is premium content. To view this article (and to have full access to the rest of our articles), sign up. Already a member? Log in.
Source URL: https://www.stockgumshoe.com/2008/08/seadrill-update-drillers-keep-getting-cheaper/
Copyright ©2024 Stock Gumshoe unless otherwise noted.
Nice upgrade for Seadrill today, from Nordea Markets. Here’s the excerpt:
“Nordea Markets analyst Ingolf Gillesdal upgraded his recommendation on Oslo-listed drilling contractor SeaDrill Ltd to “strong buy” from “buy” and raised the share price target to $37.9 from $36.3. SeaDrill share has fallen too much recently, according to Gillesdal. Nordea Markets estimates that the rig market has strengthened its position and that SeaDrill will issue an aggressive guidance and growth targets.”
I expect the earnings will be interesting at the end of the month, and if the update on the new rig deliveries is positive, I agree that it wouldn’t be outlandish to expect better guidance. Of course, that price is not too far above the highs that hit right about when I wrote about the company, and I think those targets are conservative looking out a few years, but with dividends a return to that all-time high price would still allow for a nice return over the coming year.
Never a dull moment.
Sometimes it is good to view the price of the stock in the country currency. Look here:
http://www.box.net/shared/krp8k8x8ow
Seems like we have a bit more base building to do. First support is 122 Krona. P&F objective is 108.
Has anyone heard or used a newsletter called “Safe Haven Investors”?
Hey, if you think these values are “laughable” you’ll be in stitches when RIG hits 118.00 and then 107.00. I have my eye on OIH for put purchases in the 190-200 range. It looks headed to 158.00 then 135.00. It should be awhile before the oil service sector bounces back.