Thursday, October 8, 2009

Atwoods Oceanics Hits 52 Week High on Upgrade

Ironically though it was only an upgrade to a Neutral. Another analyst that has missed the run and yet still not bullish. The time to unload Atwood Oceanics (ATW) is when this guy goes to a Buy. For now Stone Fox continues to hold it's position while the stock remains in a beautiful technial position.

Pritchard Capital Partners analyst Brian Uhlmer upgraded the company to "Neutral" from "Sell," based on a belief that all the company's bad news is known and baked into the current share price. Also, he noted that the company has helped its margins by cutting operating costs in recent months. Uhlmer held to his fourth-quarter profit estimate of 59 cents per share, assuming the company was not able to further cut operating costs in September. Analysts polled by Thomson estimate a profit of 66 cents per share, on average.

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