MARKET TALK: Atwood Oceanics Upgraded by Dahlman Rose, Targets $58

[LEFT]7:15 (Dow Jones) Dahlman Rose upgrades Atwood Oceanics to buy from hold as the company’s assets are heavily weighted to deepwater exploration. Firm expects contracted utilization of floating rigs to hit 99% in 2013, driving rates higher for drilling contractors like ATW. Firm puts a $58 price target on ATW which is up more than 16% over the last three months to $47.56.

[I]- Patrick Sullivan, Dow Jones & Company[/I][/LEFT]