Diamond Offshore Drilling (DO) Receives Price Target

Diamond Offshore Drilling (DO) : The highest level Diamond Offshore Drilling (DO) is projected to reach is $33 for the short term and the lowest estimate is at $15. The consolidated price target from 16 rating analysts who initiate coverage on the stock is $21.11 and the possibility the share price can swing is $5.32.

Diamond Offshore Drilling (DO) has an average broker rating of 3.43, which is interpreted as a Hold, as rated by 18 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 10 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. 5 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.


Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Diamond Offshore Drilling (NYSE:DO). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm lowers the price target from $25 per share to $21 per share. The rating by the firm was issued on August 25, 2016.

Diamond Offshore Drilling (NYSE:DO): The stock opened at $18.03 on Thursday but the bulls could not build on the opening and the stock topped out at $18.13 for the day. The stock traded down to $16.44 during the day, due to lack of any buying support eventually closed down at $16.51 with a loss of -10.61% for the day. The stock had closed at $18.47 on the previous day. The total traded volume was 5,963,647 shares.

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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