BTIG analyst Gregory Lewis lowered the firm’s price target on Transocean (RIG) to $6 from $12 and keeps a Buy rating on the shares as part of a broader research note. Floater activity continues to drift lower with about 125 floaters working in October – down from the year-to-date average of about 128 – and with 2025 shaping up to be a transition year for the offshore drilling activity, the analyst tells investors in a research note.
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