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Via BloggingStocks:
Filed under: International markets, Newsletters, Commodities, Oil, Stocks to Buy "What's going on with Transocean (NYSE RIG), the owner of the world's biggest fleet of offshore drilling rigs?" asks Richard Moroney, a specialist in blue chip stocks. In his Dow Theory Forecasts, he explains, "The shares plunged 67% - nearly $100 a share - in 2008, and we can't blame the usual suspects." Here, he explains why he continues to rate thes stock a "Focus List Buy" in his blue chip-focused advisory service. "Poor operating performance? Wall Street expects 2008 per-share profits of $14.34, up 68%. Shaky future? Transocean is expected to grow per-share earnings 4% in 2009 and 10% annually over the next five years. "Fundamentals eroding? Not at all. The balance sheet is sturdy and the backlog stout at $41 billion, or three times expected 2009 revenue. Rather, we see two chief contributors to Transocean's steep slide, and neither should jeopardize long-term prospects. Continue reading Transocean (RIG): A platform for profits? Transocean (RIG): A platform for profits? originally appeared on BloggingStocks on Fri, 06 Feb 2009 14:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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