UPDATE: Sterne Agee Downgrades Oil States International on REIT Potential

In a report published on Tuesday, Sterne Agee analyst Stephen Gengaro downgraded Oil States International (NYSE: OIS) from Buy to Neutral and maintained a price target of $99.00.

In the report, Sterne Agee noted, "Over the last few weeks, OIS shares have surged over $26 (35%) following the 13D filing by JANA Partners discussing a possible change in OIS' corporate structure, including the possibility of a REIT structure."

Oil States International closed on Monday at $103.01.