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Actionable news in DO: DIAMOND OFFSHORE DRILLING,

Diamond Offshore Drilling (DO) Stock Price Target Upped at Jefferies

NEW YORK (TheStreet) -- Diamond Offshore Drilling's (DO - Get Report) price target was raised to $23 from $20 at Jefferies. The firm has a "hold" rating on the stock.

The new price target comes after the Houston-based offshore drilling contractor posted better-than-expected results for the 2016 first quarter yesterday.

Diamond Offshore reported earnings of 64 cents per share, trumping analysts' estimates of 27 cents per share. Revenue came in at $470.54 million, above expectations of $412.2 million.

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