UPDATE: Wunderlich Securities Initiates Buy on TETRA Technologies on Active Onshore Services Exposure

Wunderlich Securities initiated its coverage on TETRA Technologies

with a Buy rating and a price target of $10. Wunderlich Securities said, "TETRA has aggressively expanded its footprint both geographically and operationally by acquiring growing, profitable businesses as it looks to mitigate slowdowns in the Gulf of Mexico due to permitting and other issues. These moves have made TETRA a more diverse company, but troubles offshore have been in the headlines. We believe the story has shifted to an onshore/international focus with offshore exposure, and, as such, we find the shares compelling at this time." TETRA Technologies closed at $6.53 on Wednesday.