Here’s Why Jim Cramer Thinks Ensco Shares Are Headed Higher
Jim Cramer isn't a fan of Ensco shares, but thinks the stock has the right to be able to move higher.
TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer isn't a fan of Ensco (ESV) shares, but thinks the stock has the right to be able to move higher. The company announced an equity offering that's expected to raise $525 million, which takes bankruptcy off the table, Cramer said. The stock lost 35 percent since the start of the year.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
