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SeaDrill Limited Message Board

  • vpowershellfuels vpowershellfuels Nov 19, 2012 4:08 PM Flag

    if Seadrill Partners LLC is worth $31...Seadrill worth $$$


    Morgan Stanley Analysts Initiate Coverage on Seadrill Partners LLC (SDLP)
    Posted by Bonnie Powley on Nov 15th, 2012

    Morgan Stanley began coverage on shares of Seadrill Partners LLC (NASDAQ: SDLP) in a research note issued to investors on Tuesday. The firm issued an overweight rating and a $31.00 target price on the stock.
    “We see a robust distribution growth story (19% DPU CAGR through 2015) as a result of parent’s strong motivation to dropdown assets while SDLP is also levered to attractive market fundamentals for modern drilling rigs. … Global floater market fundamentals remain tight, while near-term demand that cannot be fulfilled will likely spillover into the longer term. The ultra-deepwater market is sold out through 2H13, and while we are not calling for dayrates to rise further, we are witnessing increasing customer demand for longer ultra-deepwater contract durations, a trend translating into greater cash flow and distribution visibility.,” the firm’s analyst commented.
    A number of other firms have also recently commented on SDLP. Analysts at Wells Fargo & Co. initiated coverage on shares of Seadrill Partners LLC in a research note to investors on Wednesday. They set an outperform rating on the stock. Analysts at Citigroup initiated coverage on shares of Seadrill Partners LLC in a research note to investors on Tuesday. They set a buy rating and a $30.00 price target on the stock.
    Shares of Seadrill Partners LLC traded down 0.86% during mid-day trading on Tuesday, hitting $23.14. Seadrill Partners LLC has a one year low of $23.00 and a one year high of $25.16. The company has a market cap of $957.0 million and a P/E ratio of 6.61.

    Sentiment: Strong Buy

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2.63+0.01(+0.38%)Aug 23 4:01 PMEDT