Barclays Reaffirms Equalweight Rating While BofA Raises Price Target for Transocean Following Petrobras Contract Extensions
Following recent contract renewals with Petrobras and a growing backlog, Barclays reaffirmed its Equalweight rating on Transocean (RIG) while maintaining a $6 price target. Meanwhile, Bank of America raised RIG's price target to $4 from $3.50 but kept an Underperform rating due to long-term concerns.
Topics: analyst ratings backlog growth contract renewals oil & gas