Transocean Downgraded at Citi as Macondo LP Process 'Stalled'

By: Benzinga
Shares of Transocean (NYSE: RIG ) were earlier downgraded from Buy to Neutral by a Citi analyst. The analyst's price target was raised from $52 to $63. Citi analyst Robin Shoemaker reduced hos 2013-2015 EPS estimates below the Street consensus, citing the unlikeliness of dormant rigs being reactivated on "not
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