Market Overview

UPDATE: KeyBanc Capital Markets Downgrades Team to Hold, Removes PT

Related TISI
US Stock Futures Drop Ahead Of Economic Data
Team, Inc. Announces Purchase of Qualspec Group, $225M In Cash

In a report published Friday, KeyBanc Capital Markets downgraded its rating on Team (NYSE: TISI) from Buy to Hold, and removed its $36.00 price target.

KeyBanc Capital noted, “We are downgrading TEAM, Inc. (TISI-NYSE) from a BUY to a HOLD rating on relative valuation. While we continue to view TISI as a high-quality mid-cap name in our space and remain comfortable with our EPS estimates, our previous price target has been reached and we are relatively more bullish on plays that are more heavily leveraged to the upcoming heavy processing spending cycle vs. maintenance, following our E&C conference. In the near term, we believe a solid turnaround season will meet our expectations and reflect intact near to medium-term trends. Thematically, we remain comfortable over management's ability to deliver on its stated strategy of growing through market share gains, further traction in its non-destructive testing operations and through regional/adjacent end market consolidation. TISI is currently trading at a 9x EBITDA multiple on our CY13 estimate, placing it at a premium of roughly 40% to its peer group.”

Team closed on Thursday at $38.81.

Latest Ratings for TISI

Apr 2015BB&T CapitalUpgradesHoldBuy
Jan 2014Johnson RiceDowngradesOverweightEqual-weight
Jan 2014DA DavidsonMaintainsNeutral

View More Analyst Ratings for TISI
View the Latest Analyst Ratings

Posted-In: KeyBanc Capital MarketsAnalyst Color Downgrades Analyst Ratings


Related Articles (TISI)

Get Benzinga's Newsletters