Transocean Partners Now Covered by Analysts at Morgan Stanley (RIGP)
Investment analysts at Morgan Stanley began coverage on shares of Transocean Partners (NASDAQ:RIGP) in a note issued to investors on Tuesday. The firm set an “overweight” rating and a $31.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 23.80% from the stock’s previous close.
The analysts wrote, “Initiating coverage of RIGP at Overweight with a price target of $31, representing a total potential return of ~35%. We see a robust distribution growth story (~25% CAGR through 2016) as a result of RIG’s strong motivation to dropdown assets.”
Transocean Partners (NASDAQ:RIGP) traded up 3.43% on Tuesday, hitting $25.90. The stock had a trading volume of 84,977 shares. Transocean Partners has a 1-year low of $21.90 and a 1-year high of $25.50. The stock’s 50-day moving average is $24.25 and its 200-day moving average is $24.25. The company has a market cap of $1.786 billion and a P/E ratio of 9.14.
A number of other firms have also recently commented on RIGP. Analysts at Bank of America initiated coverage on shares of Transocean Partners in a research note on Tuesday. They set a “buy” rating on the stock. Separately, analysts at Barclays initiated coverage on shares of Transocean Partners in a research note on Tuesday. They set an “equal weight” rating and a $26.00 price target on the stock. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Transocean Partners in a research note on Monday. They set an “outperform” rating on the stock.
Transocean Partners LLC (NASDAQ:RIGP) is a growth-oriented limited liability company.
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