- Shares of oil drilling contractor Atwood Oceanics Inc. set an all-time high Thursday, as the price of oil soared and after a Credit Suisse analyst upgraded the stock a day earlier.
- On Wednesday, shares of Atwood were upgraded by Credit Suisse analyst Arun Jayaram to "Neutral" from "Underperform" following news of a contract.
- "We believe Atwood's growth rate will be the highest in the industry for the offshore drillers," Jayaram wrote in a client note.
- Jayaram's price target is now $120, compared with $97 previously (errr, gee thanks)
Long Atwood Oceanics in fund; no personal position
1 comments:
Agreed! But with a shortage of skilled labor and pressure mounting here at home for Congress to approve offshore drilling, who will operate the rigs and where willl the rigs come from to pursue exploration?
http://industry.bnet.com/energy/2008/06/26/clear-sailing-at-atwood-oceanics/
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