Global Hunter Accumulate Rating Is Reiterated

According to Global Hunter Securities, Ensco (NYSE: ESV) Accumulate rating is maintained.

Global Hunter Securities reported that ENSCO announced the early termination of the HSR waiting period as it relates to the acquisition of Pride International. “We are taking the opportunity to update our earnings estimates and we note expectations of 18% accretion in 2012. The company fleet will have among the newest ultra-deepwater rigs, but it also supports an aging midwater and jackup fleet. Still we believe upside remains and thus we are increasing our price target to $61 from $60. We reiterate our Accumulate rating.”

Ensco closed on Friday at $58.82.