It doesn't seem like it was that long ago when Transocean (NYSE:RIG)
was considered one of the best-run energy-related companies and the
leader in the offshore drilling industry. While Transocean still has far
and away the largest offshore fleet, the company's issues with
downtime, operational efficiency, and legacy Macondo liabilities has
eroded a lot of the goodwill the company had built with the Street.
Transocean's valuation doesn't appear very demanding today, and an
improving deepwater market should help, but management still has to
rebuild its credibility if the stock is to get the sort of valuation it
used to enjoy.
Continue here:
http://www.investopedia.com/stock-analysis/080813/transocean-still-has-plenty-prove-valuation-isnt-demanding-rig-sdrl-esv-vtg.aspx
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