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Research analysts at RBC Capital reduced their price target on shares of Transocean LTD (NYSE:RIG) from $45.00 to $42.00 in a report released on Friday. RBC Capital’s price objective points to a potential upside of 7.91% from the stock’s previous close.

Transocean LTD (NYSE:RIG) traded up 1.80% on Friday, hitting $38.92. 5,736,353 shares of the company’s stock traded hands. Transocean LTD has a 52 week low of $38.01 and a 52 week high of $55.74. The stock’s 50-day moving average is $42.95 and its 200-day moving average is $42.42. The company has a market cap of $14.089 billion and a price-to-earnings ratio of 7.64.

Transocean LTD (NYSE:RIG) last released its earnings data on Wednesday, August 6th. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.12 by $0.49. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that Transocean LTD will post $4.24 EPS for the current fiscal year.

RIG has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of Transocean LTD from $41.00 to $40.00 in a research note on Friday. Separately, analysts at Deutsche Bank downgraded shares of Transocean LTD from a “hold” rating to a “sell” rating in a research note on Monday. They now have a $27.00 price target on the stock, down previously from $45.00. Finally, analysts at Susquehanna cut their price target on shares of Transocean LTD from $38.00 to $37.00 in a research note on Tuesday, July 15th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $43.99.

Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.

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