UPDATE: Credit Suisse Initiates Oil States International at Outperform on Potential Upside
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
|Aug 2016||Morgan Stanley||Initiates Coverage on||Equal-weight|
|Aug 2016||Deutsche Bank||Maintains||Hold|
|Jun 2016||Evercore ISI Group||Upgrades||Hold||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.