Replies to post #54 on Diamond Offshore Drilling Inc (DO)

[Timothy Smith]

Diamond Offshore (DO -0.2%) is downgraded to Underperform from Market Perform with a $24 price target, lowered from $30, at FBR Capital, which says it is significantly reducing its estimates given DO's Q1 earnings as well as an industry floating rig market consensus that not only should utilization and dayrates remain under pressure through 2015, but also that the start of the next up cycle remains unlikely before H2 2016 at the earliest.