UPDATE: Credit Suisse Upgrades Oil States International
In a note released Monday, Credit Suisse analyst James Wicklund upgraded shares of Oil States International (NYSE: OSI) from Neutral to Outperform and raised his price target from $60 to $72.
Wicklund's confidence for Oil States in both the second half of 2014 and the long-term is increasing due to better than expected EBITDA margins posted in the second quarter and guided for the third quarter, an "all-time high" backlog of nearly $600 million, and a 1:1 book-to-bill ratio.
As an additional positive, Wicklund believes that the company's Completion and Services business should continue to see solid demand and >30 percent incremental margins.
Latest Ratings for OIS
|Jun 2015||Scotia Howard Weil||Upgrades||Sector Perform||Sector Outperform|
|May 2015||JP Morgan||Initiates Coverage on||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.