Trump Seeks Sanctions On European Subsea Gas Pipeline
By Andrea Shalal (Reuters) – The United States is urging European allies and private companies to halt work that could help build the Nord Stream 2 natural gas pipeline and...
(Dow Jones) Many analysts have taken Transocean to the cleaners after it barely eked out a 3Q profit, but Citi is keeping its buy rating while lowering estimates and its stock-price target to $65 from $72. Though admitting the results were “dreadful,” it calls Thursday’s 12% stock slump “overdone. Even on our reduced estimates, its Ebitda multiples are the lowest” among offshore oil drillers. Citi adds, “Contrary to the impression management may have given on the call, we have absolutely no doubt that the company will continue to pay its dividend.” RIG is up 1.7% today at $49.82 amid a broadly lower market. The stock is still down 17% this week.
– by Kevin Kingsbury, Dow Jones & Co
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