Upgrade Alert for Diamond Offshore Drilling (DO)
Diamond Offshore Drilling (NYSE:DO) was upgraded from Accumulate to Buy at KLR Group today. The stock closed yesterday at $25.82 on volume of 2.4 million shares, below average daily volume of 2.5 million.
Based on a current price of $25.82, Diamond Offshore Drilling is currently 25.5% above its average consensus analyst price target of $19.24. The stock should find initial support at its 50-day moving average (MA) of $22.39 and further support at its 200-day MA of $21.03.
Diamond Offshore Drilling, Inc. drills offshore oil and gas wells on a contract basis. The Company is a world-wide deep water driller that serves markets that include the deep water, harsh environment, conventional semisubmersible and jack-up markets.
Diamond Offshore Drilling share prices have moved between a 52-week high of $35.95 and a 52-week low of $14.18 and closed yesterday at 82% above that low price at $25.82 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Diamond Offshore Drilling on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.34. Since that recommendation, shares of Diamond Offshore Drilling have risen 36.9%. We continue to monitor DO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Diamond Offshore Drilling