Transocean shares are trading higher after CItigroup upgraded the stock from Neutral to Buy and raised its price target from $6.5 to $9.5. The company also announced that $172 million in options have been exercised for the Transocean Encourage in Norway.
Portfolio Pulse from Benzinga Newsdesk
Transocean's stock has been upgraded from Neutral to Buy by Citigroup, with the price target raised from $6.5 to $9.5. This has resulted in a rise in Transocean's share price.
July 05, 2023 | 12:24 pm
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Citigroup has upgraded Transocean's stock from Neutral to Buy and raised its price target from $6.5 to $9.5, leading to a rise in the company's share price.
The upgrade from Citigroup is a positive signal for investors, indicating a bullish outlook for Transocean. The increase in the price target suggests that Citigroup believes the stock has significant upside potential, which is likely to attract more investors and drive up the share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100