Transocean price target lowered to $4 from $4.50 at Barclays

Barclays lowered the firm’s price target on Transocean (RIG) to $4 from $4.50 and keeps an Overweight rating on the shares. The firm updated offshore driller models post the Q4 reports. Management teams were unanimous in acknowledging near-term softness but reiterated constructive outlooks for 2026 and 2027, with contracting to pick up around mid-year, the analyst tells investors in a research note. Barclays believes pricing is the “big question mark,” and it sees elevated risk into potentially negative data points in the coming months.