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Evercore ISI Upgrades Oil States International (OIS) to Buy

June 29, 2016 7:34 AM EDT
Get Alerts OIS Hot Sheet
Price: $5.88 --0%

Rating Summary:
    13 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 36
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Evercore ISI upgraded Oil States International (NYSE: OIS) from Hold to Buy with a price target of $37.00 (from $25.00).

Analyst James West commented, "Oil State’s land-based Well Site Services business should see significant operating leverage over the next several quarters. However, the once dominant Offshore Products segment is likely now peaking as the company burns through backlog and new bookings likely lag those of niche technology providers. The company has a relatively strong balance sheet and positive EBITDA, and despite higher working capital needs as the NAM-land driven business outlook improves, OIS should continue t o generate free cash flow for debt retirement, share repurchases, and potential acquisitions."

For an analyst ratings summary and ratings history on Oil States International click here. For more ratings news on Oil States International click here.

Shares of Oil States International closed at $31.26 yesterday.



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