Transocean LTD Gets a Hold Rating from Susquehanna

By Jason Carr

In a report released today, Charles Minervino from Susquehanna reiterated a Hold rating on Transocean LTD (NYSE: RIG), with a price target of $11. The company’s shares closed yesterday at $12.12.

According to, Minervino is a 1-star analyst with an average return of -2.8% and a 54.0% success rate. Minervino covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oil States International.

Currently, the analyst consensus on Transocean LTD is Hold and the average price target is $11.42, representing a -5.8% downside.

In a report issued on January 10, Piper Jaffray also reiterated a Hold rating on the stock with a $11 price target.

Based on Transocean LTD’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $808 million and GAAP net loss of $1.42 billion. In comparison, last year the company earned revenue of $974 million and had a net profit of $217 million.

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Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It owns and operates offshore drilling fleet such as ultra-deepwater, harsh-environment, deepwater, and midwater rigs. The company was founded in 1954 and is headquartered in Vernier, Switzerland.