Citi analyst Scott Gruber says his organic cash burn analysis implies the drillers will burn cash un | SDRL Message Board Posts

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Msg  37075 of 37106  at  6/14/2019 7:29:37 PM  by

okie_flats


Citi analyst Scott Gruber says his organic cash burn analysis implies the drillers will burn cash until "at least" 2021, and his base case has floater utilization remains below 70% by 2022, "well below the level needed to see significant pricing power."

Transocean 5.42 −0.26 (4.58%)

Transocean downgraded at Citi amid rough ride for drilling stocks

Jun. 14, 2019 1:58 PM ET|About: Diamond Offshore Drilling, ... (DO)|By: Carl Surran, SA News Editor

Transocean (RIG -4.4%) tumbles to a new 52-week low after Citi downgrades shares to Neutral from Buy with a $6.70 price target, slashed from $11.

Citi analyst Scott Gruber says his organic cash burn analysis implies the drillers will burn cash until "at least" 2021, and his base case has floater utilization remains below 70% by 2022, "well below the level needed to see significant pricing power."

It has been a rough ride lately for the drilling sector, with RIG -11% this week, and peers ESV -18%, NE -24%, SDRL -14%, DO -11% and PDS -10% on the week.


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Msg # Subject Author Recs Date Posted
37076 Re: Citi analyst Scott Gruber says his organic cash burn analysis implies - So what ? ICE 1 6/15/2019 11:22:36 AM


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