UPDATE: DNB Markets Downgrades ENSCO to Hold on Fleet Downtime

DNB Markets reduced its rating on ENSCO (NYSE: ESV) from Buy to Hold with a reiterated price target of $60 a share.

DNB Markets said, "Ensco announced several jack-up contracts in its fleet update, showing encouraging day rates. These positives were offset by incremental downtime and delayed startups.We have lowered our 2012e EPS to USD5.38 (-2.4%) and raised our 2013e and 2014e EPS to USD7.11 (1.2%) and USD9.04 (1.2%). Our recommendation is cut from BUYto HOLDas theshare approaches our USD60 target."

ENSCO closed at $57.27 on Monday.