RIG is an excellent example of a stock to short. It has underperformed the market for years. Its most recent rally up to 13.03 is just the most recent example of weakness as it failed to move above the prior high at 13.48 made in February.
Compare this to the SPX which has moved above its February high.
RIG is a great stock to short if it has another rally. Minimum downside target is 7.67 lower targets could be difficult to determine because the stock has never been lower than 7.67.