Transocean Ltd: Evercore cuts PT
12:27 PM ET, 10/18/2017 - Reuters
** Swiss-based offshore drilling service provider's U.S shares down 4.3 pct at $10.3 as Evercore cuts PT to $20 from $21
** Firm's $106 mln backlog implies a lower-than-expected near-breakeven $145,000/day ultra deep water dayrate - Evercore
** The two-year contract for its drill-ship Deepwater Invictus with BHP Billiton is expected to begin only in Q218, resulting in unanticipated gap between contracts for Invictus
** Up to Tuesday's close, stock had fallen 29.6 pct this year (Reporting by Akshara P)
"Then there was a woman, a lion of a woman."