Energy Stocks On Rise?

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After many volatile months in the oil industry, BMO Capital analyst Daniel Boyd is ready for an energy bounce back. In a note yesterday, of the 18 energy stocks mentioned, he listed 13 as either Outperform or Market Perform. For the U.S. oil services sector as a whole, he initiated the sector at an Outperform rating. As for his reasoning regarding his rating, Boyd believes that cycles will likely be shorter across the next few years. High quality companies in these conditions are more likely to make, in Boyd's words, "higher highs and lower lows". With that being said, to prevent the oil market from heading to supply deficit, rig count will have to increase 60% off trough. Some notable companies Boyd initiated coverage on were: Outperform: Halliburton Company
HAL
- Price Target $53 Baker Hughes Incorporated
BHI
- Price Target $78 Schlumberger Limited
SLB
- Price Target $105 Market Perform: Helmerich & Payne Inc
HP
- Price Target $76 FMC Technologies, Inc.
FTI
- Price Target $47 Atwood Oceanics, Inc
ATW
- Price Target $36 Underperform: National-Oilwell Varco, Inc.
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NOV
- Price Target $53 Oil States International, Inc.
OIS
- Price Target $49 Diamond Offshore Drilling, Inc.
DO
- Price Target $29
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