Market Overview

Evercore ISI Downgrades Drilling Companies

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Evercore ISI analyst James West commented in an analyst note Monday that oil services companies estimates have been reduced across the board.

The steepest declines were forecasted for companies heavily exposed to North America where E&P expenditures are expected at -10 percent in 2015 vs. prior expectations of +8 percent.

According to the note, oil prices are not expected to fully rebound until the second half of 2015.

Below are the firm's rating changes along with current price targets:

GulfMark Offshore, Inc (NYSE: GLF) - From Hold to Sell, $20 price target

Oil States International, Inc. (NYSE: OIS) - From Buy to Hold, $50 price target

Parker Drilling Company (NYSE: PKD) - From Buy to Hold, $4 price target

RPC, Inc. (NYSE: RES) - From Buy to Hold, $18 price target

Seadrill Ltd (NYSE: SDRL) - From Buy to Hold, $20 price target

Latest Ratings for GLF

DateFirmActionFromTo
Jul 2016MaintainsUnderweight
Mar 2016DowngradesNeutralSell
Mar 2016MaintainsSector Perform

View More Analyst Ratings for GLF
View the Latest Analyst Ratings

Posted-In: Evercore James WestAnalyst Color Downgrades Price Target Analyst Ratings

 

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