RIG getting a less than flattering rating today didnt help. Credit Suisse gives RIG a neutral rating and price target of $56, or a 13% increase from present price. But gives SDRL a $57 price target or a 29% increase from present price. Ridiculous.
freaking brazil. rig has 9 rigs under contract in brazilian waters. if the injunction order doesn't get reversed (it still might) how much lost rev per day are we talking? 3-4 million (haven;t checked the dayrates but the exact per day cost is easy to total). Really awful situation for them.
so if someone's opinion doesnt match YOURS, you make fun of it? Real mature. All you need to do is look at the signs. If yo are willing to ignore them, thats your choice. Market has been melting up for weeks, and all on negative news. I am also in the camp that the market will correct nicely in the coming months. S&P will be at or under 1300 EOY and DOW at 12000. Getting ready to take a small position in SDS. What that does to RIG is beyond me...I just trade it.
Agreed. Obama is the impediment. We need to see him go down in the polls very soon. I hope ft C. Christie has some encouraging words for the voters and I hope he pulls no punches w/ O. Maybe this convention will instill some confidence.