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Downgrade Alert for ENSCO International (ESV)

By Shiri Gupta

ENSCO International (NYSE:ESV) was downgraded from Hold to Sell at DNB Markets today. The stock closed yesterday at $9.82 on volume of 7.0 million shares, below average daily volume of 15.0 million.

ENSCO International Incorporated is an international offshore contract drilling company. The Company's operations are concentrated in the geographic regions of Asia Pacific (which includes Asia, the Middle East, Australia and New Zealand), Europe/Africa and North and South America.

Potential upside of 68.6% exists for ENSCO International, based on a current level of $9.82 and analysts' average consensus price target of $16.56. The stock should run into initial resistance at its 50-day moving average (MA) of $10.61 and subsequent resistance at its 200-day MA of $13.75.

ENSCO International share prices have moved between a 52-week high of $28.40 and a 52-week low of $7.25 and closed yesterday at 35% above that low price at $9.82 per share. The 200-day and 50-day moving averages have moved 1.18% lower and 1.86% higher over the past week, respectively.

SmarTrend is tracking the current trend status for ENSCO International and will alert subscribers who have ESV in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades ensco international

Ticker(s): ESV