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RBC Capital announced Transocean (NYSE:RIG), upping its target price to $13.00 today

Transocean (NYSE:RIG) had its target upped to $13.00 by RBC Capital in an issued report announced 11/14/2017. The upped target price indicates a possible upside of 0.24% based on the company's previous stock price.

Yesterday Transocean (NYSE:RIG) traded -1.02% lower at $10.50. Transocean’s 50-day moving average is $9.72 and its 200-day moving average is $9.52. The last stock price is up 7.25% relative to the two hundred day average, compared with the S&P 500 Index which has increased 0.02% over the same time. 4,574,110 shares of the stock were exchanged, down from an average trading volume of 17,545,700

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Transocean (NYSE:RIG)

Transocean has a 52 week low of $7.20 and a 52 week high of $16.66 The company’s market cap is currently $0.

In addition to RBC Capital reporting its target price, a total of 29 firms have reported on the stock. The consensus target price is $8.58 with 1 firm rating the stock a strong buy, 1 firm rating the stock a buy, 13 firms rating the stock a hold, 16 firms rating the stock a underperform, and finally 6 brokers rating the stock a sell.

Brief Synopsis On Transocean (NYSE:RIG)

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company's primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units. As of February 9, 2017, its fleet consisted of 30 floaters, seven harsh environment floaters, three deepwater floaters, six midwater floaters and 10 high-specification jackups. As February 9, 2017, it also had four ultra-deepwater drillships and five high-specification jackups under construction or under contract to be constructed. Its contract drilling services operations are spread across oil and gas exploration and development areas throughout the world. The Company's drilling fleet can be characterized as floaters, including drillships and semisubmersibles, and jackups.

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