UPDATE: Wall Street Strategies Raises PT on Ensco International to $65 (ESV)

Wall Street Strategies is out with its report today on Ensco International (NYSE: ESV), raising its PT from $61 to $65.

In a note to clients, Wall Street Strategies writes, "Ensco's financial position continues to be strong, particularly given the sizeable cash position totaling $1,050.7 million at the end of the quarter. Additionally, the Company has a revolving credit facility of $700 million fully available. This ensures enough financial flexibility to pursue the Company's strategic objectives and maintain the current dividend policy. The current long term debt level remains low at $240.1 million with no significant maturities in the near term. We are reiterating our BUY recommendation and adjusting our price objective to $65.00."

Shares of ESV closed Tuesday at $57.19, down 0.82% from Monday's close.