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.
Showing posts with label Jefferies. Show all posts
Showing posts with label Jefferies. Show all posts
Tuesday, November 9, 2010
Friday, October 15, 2010
Superior Energy (NYSE:SPN) Gets "Buy" Ratings on New Jefferies' Coverage
Superior Energy Services (NYSE:SPN) received a "Buy" rating from Jefferies as they initiated coverage on them, citing diversification of revenue streams away from the Gulf of Mexico.
"SPN is very well positioned to continue to diversify its revenue stream away from the Gulf by leveraging its products and services in key international markets, and benefiting from higher well complexity in the U.S. land market. We see earnings upside and likely multiple expansion over the next few years," said Jefferies.
Superior closed Thursday at $26.79, dropping $0.07, or 0.26 percent.
Jefferies started them off with a price target of $34.
"SPN is very well positioned to continue to diversify its revenue stream away from the Gulf by leveraging its products and services in key international markets, and benefiting from higher well complexity in the U.S. land market. We see earnings upside and likely multiple expansion over the next few years," said Jefferies.
Superior closed Thursday at $26.79, dropping $0.07, or 0.26 percent.
Jefferies started them off with a price target of $34.
Tuesday, September 21, 2010
Jefferies Raises Sempra Energy (NYSE:SRE) Price Target, Fitch Wary
News of the sale of RBS Sempra Commodities energy solutions division to Noble Gas and Power Corp. brought mixed reactions, with Jefferies increasing the price target on Sempra Energy (NYSE:SRE) and while Fitch said they're maintaining a negative watch.
Jefferies said the reason they raised the price target from $59.50 to $60, was "We find SRE shares undervalued based on P/E valuation.
The sale of Sempra's remaining interest in the RBS Sempra Commodities JV should allow for a higher multiple on a reduced earnings level due to relatively less risk associated with Sempra's other business units."
They reiterated their "Buy" rating on Sempra Energy as well.
Fitch said they're keeping a negative watch on Sempra for the same reasons Jefferies raised the price target, but their concern is what Sempra will do with the capital.
While they say there could be a downgrade ahead, Fitch said they'll wait for the sale of Sempra's North American wholesale power and natural gas unit before making a decision.
Fitch said the wholesale power and natural gas division could fetch from $640 million to $740 million.
Jefferies said the reason they raised the price target from $59.50 to $60, was "We find SRE shares undervalued based on P/E valuation.
The sale of Sempra's remaining interest in the RBS Sempra Commodities JV should allow for a higher multiple on a reduced earnings level due to relatively less risk associated with Sempra's other business units."
They reiterated their "Buy" rating on Sempra Energy as well.
Fitch said they're keeping a negative watch on Sempra for the same reasons Jefferies raised the price target, but their concern is what Sempra will do with the capital.
While they say there could be a downgrade ahead, Fitch said they'll wait for the sale of Sempra's North American wholesale power and natural gas unit before making a decision.
Fitch said the wholesale power and natural gas division could fetch from $640 million to $740 million.
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