UPDATE: Williams Financial Group Reiterates Buy Rating, Lowers PT on Oil States International
In a report published Friday, Williams Financial Group reiterated its Buy rating on Oil States International (NYSE: OIS), but lowered its price target from $112.00 to $101.00.
Williams Financial noted, “OIS posted an above‐Consensus quarter with again record Offshore Products Backlog, but slippage of revenue for that segment into 4Q and Australian Accommodations contracts potentially reverting closer to minimum levels weighed on shares. Still, Accommodations should generate further organic room growth and high margins. Offshore Products should gain further traction coming off record backlog as well. We reiterate our Buy rating despite lowering our price target to $101.”
Oil States International closed on Thursday at $71.74.
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Tags: Williams Financial Group