Transocean stock rises as oil rebounds; BTIG lifts target ahead of earnings (RIG)
Transocean shares rose 1.2% to $4.88 in midday New York trading Tuesday, tracking a rebound in oil prices after Monday’s drop. BTIG raised its price target on the stock to $6, citing increased rig contracting. Transocean’s fourth-quarter results and fleet update are due Feb. 19 after the close. Traders await U.S. oil inventory data Wednesday.