Goldman Sachs has said enough is enough in oil drillers. The firm is suggesting that investors take advantage of recent weakness seen in the offshore oil drillers.
Its two Buy-rated picks in the call were Diamond Offshore (NYSE: DO) with some 23% upside to its price targets and Pride International (NYSE: PDE) with about 20% upside to its price targets.
Goldman Sachs even noted Transocean (NYSE: RIG) with 22% upside to its target, although Goldman Sachs only has a neutral rating on that name.
This huge discovery in Brazil is noted as part of the reason for day rates rising, although this now notes a record $639,000/day rate.
Jon C. Ogg
February 19, 2008
Are You Ahead, or Behind on Retirement?
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: am I ahead, or behind on my goals?
Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With Zoe Financial’s free matching tool, you can connect with trusted financial advisors in minutes.
Why wait? Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.