UPDATE: Credit Suisse Reiterates On Frank's International NV On Revised Valuation Parameters

In a report published Tuesday, Credit Suisse analyst James Wicklund reiterated a Neutral rating on Frank's International NV FI, but lowered the price target from $24.00 to $22.00. In the report, Credit Suisse noted, “This piece is intended to clarify the valuation of Frank's to take into account the minority interest ownership of the family private partnership. While it has no impact on the P/E valuation, it does impact the EV/EBITDA valuation – the primary metric typically used in the OFS sector.” Frank's International NV closed on Monday at $19.28.