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Transocean (RIG) Stock Soared on Optimistic KeyBanc Outlook

NEW YORK (TheStreet) -- Transocean (RIG - Get Report) shares closed Friday's trading session up 4.17% to $16.98 after analysts at KeyBanc said that the oil and gas company will be one of the six companies that will "lead in an industry recovery," Barron' reports.

The oil industry has been hit by growing oil production and a slowdown in demand for offshore drilling services, analysts said.

However, there will be a recovery in the future, which is why analysts are hopeful.

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Analysts pointed out that the companies that have a market cap range between $600 million and $5.9 billion are "experienced, battle-tested, long-established competitors," Barron' said.

Based in Switzerland, Transocean provides offshore contract drilling services for oil and gas wells worldwide.

Separately, TheStreet Ratings team rates TRANSOCEAN LTD as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

We rate TRANSOCEAN LTD (RIG) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any...