Susquehanna Raises Transocean (RIG) Price Target, Barclays Downgrades

Transocean Ltd. (NYSE:RIG) is one of the 12 Best Stocks Under $10 to Invest In Right Now. On February 23, Susquehanna raised its price target on Transocean Ltd. (NYSE:RIG) from $6.50 to $7.50 and maintained its Positive rating on the stock.

The research firm updated its estimates after Transocean Ltd. (NYSE:RIG) reported strong Q4 2025 results. The company achieved a strong free cash flow of $321 million, its highest level in nearly ten years. For the full year, the company generated $626 million in free cash flow. Transocean Ltd. (NYSE:RIG) also secured several new contracts, including a three-well contract with BP in Brazil for the Deepwater Mykonos and a six-well contract in Australia for the Deepwater Skyros.

Earlier, on February 17, Barclays downgraded its rating on Transocean Ltd. (NYSE:RIG) from Overweight to Equalweight but raised its price target from $4.50 to $6 for the stock. The research firm increased its EBITDA estimates as well. It now projects $1.391 billion for 2026, up from $1.38 billion, and $1.47 billion for 2027, up from its previous forecast of $1.386 billion.

Barclays based the new price target on a rig-by-rig discounted cash flow model using a 10.5% discount rate, compared with 11% previously.

Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a strong focus on ultra-deepwater and harsh environment drilling services. The company operates the world’s highest specification floating offshore drilling fleet.

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