UPDATE: Jefferies Raises PT on Ensco to $67 (ESV)
Jefferies is out with its report today on Ensco (NYSE: ESV), raising its PT from $64 to $67.
In a note to clients, Jefferies writes, "With a high spec fleet of jack-ups and floaters, global jack-up demand showing tangible signs of a recovery, and the best spot exposure to the high spec UDW market over the next 3 years, we believe that ESV is the best positioned offshore driller to benefit from the next cyclical upturn in activity. We are raising our PT to $67 from $64 on higher EPS estimates."
Jefferies maintains Buy on ESV.
Shares of ESV closed Thursday at $58.27.
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