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Upgrade Alert for ENSCO International (ESV)

By James Quinn

ENSCO International (NYSE:ESV) was upgraded from Underperform to Market Perform at BMO Capital today. The stock closed yesterday at $8.31 on volume of 4.4 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 99.3% exists for ENSCO International, based on a current level of $8.31 and analysts' average consensus price target of $16.56. The stock should find initial resistance at its 50-day moving average (MA) of $10.61 and further resistance at its 200-day MA of $13.75.

In the past 52 weeks, ENSCO International share prices have been bracketed by a low of $6.50 and a high of $28.40 and closed yesterday at $8.31, 28% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has advanced 1.9%.

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