Oil States International Inc. (NYSE:OIS) had excellent results in the third quarter, and has the foundation laid to launch a successful expansion strategy in multiple areas.
"Solid 3Q results across all segments drove the 3Q upside surprise. Looking ahead, we expect strength in North America, growth in the Oil Sands Accommodations business, the addition of "The MAC" in Australia and rising offshore activity to bolster earnings and lead to multiple expansion," said Jefferies.
Oil States closed at $54.71, gaining $1.24, or 2.32 percent. Jefferies raised their price target on them from $63 to $66, while maintaining their "Buy" rating.
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