Transocean: It’s Not What You Know, It’s Who You Know

Credit Suisse analyst Gregory Lewis and team maintain their bearish outlook on the offshore-drilling sector--and cut its rating on Rowan ( RDC ) to Neutral from Outperform--but upgraded Transocean ( RIG ) to Neutral from Underperform thanks, in part, to the ability of its "diverse footprint and relationships to drive more work its way." They explain: