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.