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UPDATE: Credit Suisse Initiates Oil States International at Outperform on Potential Upside

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Credit Suisse initiated Oil States International (NYSE: OIS) with an Outperform rating and a $91.00 price target.

Credit Suisse said, "It is well known that many E&Ps ran out of capital in 4Q12. OIS' seasonal business lines showed significant declines in annual implied revenue generation from Q1-Q3, averaging -20%. As a result, we think that 1Q13 will start from a lower revenue generation base than the 2012 annual average revenue would imply. This is the primary reason we are below the Street in our EPS forecasts of $7.46 for 2013. We think the 2013 EPS revisions are forthcoming by our peers and would recommend investors wait for those changes to take their toll before initiating new long positions."

Oil States International closed at $77.58 on Thursday.

Latest Ratings for OIS

DateFirmActionFromTo
Feb 2015Credit SuisseDowngradesOutperformNeutral
Feb 2015BMO CapitalInitiates Coverage onUnderperform
Feb 2015Capital One FinancialDowngradesOverweightEqualweight

View More Analyst Ratings for OIS
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Initiation Analyst Ratings

 

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