Seadrill And The Pirates Of The Sea


The stock is overly punished as current market conditions are extrapolated into the future.
Market is being pessimistic about obtaining a contract for the West Capella.
The discount of semisubs to drillships has expanded beyond what's reasonable.
I recommend SDLP with a target price of $10.00/sh, a double-your-money opportunity. My stop loss would be at $2.75 (a 55% downside).

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