Ensco held a 2-day analyst meeting in Europe. Jeffries reiterated their buy recommendation with $67 price target this morning. Positive comments were made about the pace of integration of Pride as well as general demand activity for jack-ups and the improving environment for permits in the GOM.
There was to be an update to the court in LA re: the litigation relating to permits status today (June 20th) with a final resolution by July 8th. Hopeful for good news here.
Drillers in general just keep getting pounded, but the news relating to them all seems positive, if not downright bullish. One question is "how low will these stocks go before anyone cares?"