Analyst Rating Update on Diamond Offshore Drilling (DO)

Diamond Offshore Drilling (DO) has an average broker rating of 3.36, which is interpreted as a Hold, as rated by 16 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 9 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 4 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company. 1 considers that the stock is a Sell.

Diamond Offshore Drilling (DO) : The consensus price target for Diamond Offshore Drilling (DO) is $21.6 for the short term with a standard deviation of $5.95. The most optimist securities analyst among the 15 who monitor the stock believes that the stock can reach $34, however, the pessimist price target for the company is $14.

Company shares have received an average consensus rating of Hold for the current week Also, Equity analysts at the Brokerage firm Bank of America reinstates its rating on Diamond Offshore Drilling (NYSE:DO). The rating major has initiated the coverage with buy rating on the shares. The rating by the firm was issued on June 13, 2016.


Diamond Offshore Drilling (NYSE:DO): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.78 and $20.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.23, notching a gain of 2.17% for the day. The total traded volume was 2,929,284 . The stock had closed at $20.78 on the previous day.

Diamond Offshore Drilling, Inc. is a company engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of 38 offshore drilling rigs, including 27 semisubmersibles, six jack-ups and five drillships. The Companys diverse fleet enables the Company to offer a range of services around the world in both the floater market (ultra-deepwater, deepwater and mid-water) and the non-floater, or jack-up, market. The Companys floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater, deepwater, and mid-water. Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Companys jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Companys jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig.

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