ENSCO International (NYSE:ESV) EPS Leverage Strong on Jackup Rig Pricing

FBR Capital likes what they see in the pricing power of ENSCO International (NYSE:ESV) in relationship to jackup rig rates, which they see driving up EPS going forward.

FBR said, "We are adding Ensco plc to the FBR Top Picks list based on its strong EPS leverage to rising jackup rig rates. We expect rates for mid-tier jackups to start to narrow the gap with higher-end rigs, driving EPS upside for ESV. Ensco is also very well positioned to benefit markedly from what we see as a firming of the day rates environment on ultra-deepwater semisubmersible rigs."

FBR Capital maintains an "Outperform" rating on ENSCO International Plc, which closed Tuesday at $51.57, down $0.06, or 0.12 percent. They have a price target on them of $59.