Cowen & Co. Remains a Hold on Rowan Companies

By Ryan Adsit

In a report released yesterday, Marc Bianchi from Cowen & Co. reiterated a Hold rating on Rowan Companies (NYSE: RDC), with a price target of $14. The company’s shares closed yesterday at $17.10.

According to, Bianchi is ranked 0 out of 5 stars with an average return of -5.2% and a 40.5% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Baker Hughes a GE company, and Diamond Offshore Drilling.

Currently, the analyst consensus on Rowan Companies is Moderate Buy and the average price target is $15.71, representing a -8.1% downside.

In a report issued on January 4, Jefferies also reiterated a Hold rating on the stock with a $16 price target.

The company has a one-year high of $20.34 and a one-year low of $9.02. Currently, Rowan Companies has an average volume of 2.86M.

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Rowan Cos. Plc provides offshore contract drilling services to the international oil and gas industry. It focuses on high specification and premium jack-up rigs, which are used for exploratory and development drilling operations. The company operates through two segments: Deepwater, which consists of drillship operations, and Jack-Ups.