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UPDATE: Credit Suisse Upgrades Oil States International

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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

DateFirmActionFromTo
May 2015JP MorganInitiates Coverage onNeutral
Feb 2015Credit SuisseDowngradesOutperformNeutral
Feb 2015BMO CapitalInitiates Coverage onUnderperform

View More Analyst Ratings for OIS
View the Latest Analyst Ratings

Posted-In: Credit Suisse James WicklundAnalyst Color Upgrades Price Target Analyst Ratings

 

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