Credit Suisse Raises Price Target And Estimates For Transocean Ltd. (RIG)

Analysts Arun Jayaram and Eduardo Royes at Credit Suisse have released an update on Transocean Ltd. (NYSE: RIG). Analysts say that the company’s April status report was positive at the margin, with solid backlog builds in the floater and jackup segments.

Analysts have raised their 2010 and 2011 EPS estimates for the company to reflect new contract activity. 2010 EPS estimate has been raised from $8.05 to $8.20, while 2011 EPS estimate has been raised from $8.66 to $9.05. The 12-month price target for the company has been raised from $93 to $94.

Analysts at Credit Suisse have maintained their Outperform rating for Transocean Ltd.