MARKET TALK: Macquarie More Bullish On Offshore Drillers

[LEFT]9:57 16 May (Dow Jones) Macquarie thinks three major factors “provide a compelling entry point” for deepwater drilling stocks: Share prices have pulled back recently, Brent crude prices have fallen, and the group posted strong quarterly results. It raises ratings on Atwood Oceanics (ATW), Ensco (ESV), Noble (NE) and Rowan (RDC) to outperform from neutral, and Transocean (RIG) to neutral from underperform. Macquarie’s offshore driller composite has pulled back almost 17% in the past two months. All stocks trading higher.

  • Alexandra Scaggs, Dow Jones Newswires [/LEFT]