Opinions
Ross Healy
Diamond Offshore Drilling Inc.
DO-N
COMMENT
Jun 17, 2014
$49.140
Stock price when the opinion was issued
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There is a very good fundamental case to be made for offshore drillers. If the U.S. Congress allows offshore drilling, these companies are in a great spot. Technically this group has been badly broken in the last few weeks. He would like to see it trade above the 50-day and 200-day moving averages.
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Like a lot of drillers, it is cheap. Its FMV easily carries the stock back to $70, and may be as high as $85. The question is, when are things going to turn around.