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Strategies & Market Trends : Dividend investing for retirement

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From: mopgcw	5/30/2014 4:25:41 PM
	of 34328

barrons: Seadrill: Time to Sell? By Ben Levisohn Yes, says Nordea’s Janne Kvernland and Kristoffer Pedersen, who downgraded Seadrill’s shares today following the stocks 8% rise during the past month. Kvernland and Pedersen explain why they slashed their rating on Seadrill despite the offshore driller’s solid earnings earlier this week: [We are] downgrading the shares to Sell in the wake of the recent strong performance…Seadrill was slightly more positive on the UDW market than in its Q4 presentation, reporting increased activity from independents and majors in recent weeks. However, the lack of contract leads for 2013-built West Tellus in 2014 is a clear sign of how quiet the market is. We are still of the opinion that the market will remain weak in the next couple of years owing to the large number of uncontracted newbuilds and plenty of units coming off contract… Although we believe the Rosneft deal and potential backlog additions in Brazil and West Africa support dividends, there is still limited earnings visibility beyond 2015. This, coupled with likely worsened data points from the market, will keep the sustainability of the dividend uncertain for the next few months

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