UPDATE: Global Hunter Raises PT on Ensco to $62 (ESV)

Global Hunter is out with its report today on Ensco (NYSE: ESV), raising its PT from $61 to $62.

In a note to clients, Global Hunter writes, "At 7.0x our 2012 EBITDA of $2.5 billion, we arrive at a $62 price target, which is up from our prior target of $61. The stock has solid upside to our $62 price target and we reiterate our Accumulate rating, favoring ESV as one of the names best to play the offshore driller space."

Shares of ESV closed Tuesday at $54.11.