UPDATE: UBS Downgrades Frank's International (FI) to Sell

August 25, 2016 6:38 AM EDT
Get Alerts FI Hot Sheet
Price: $12.54 --0%

Rating Summary:
    5 Buy, 11 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 28 | Down: 28 | New: 23
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(Updated - August 25, 2016 8:25 AM EDT)

UBS downgraded Frank's International (NYSE: FI) from Neutral to Sell with a price target of $7.50 (from $16.00). Analyst Angie Sedita said she expects relative under-performance driven by offshore exposure and valuation.

"We view Frank’s as a high-quality company (operationally and balance sheet) but see it as a 'relative under-performer' over the next 1-2 years reflecting its significant offshore exposure (70%-80% of revenues). We see outsized risk to earnings (both revenues/margins) over the intermediate term. Additionally, we are substantially cutting our earnings estimates which is resulting in a record EV/EBITDA multiple premium versus its peer group," said Sedita.

For an analyst ratings summary and ratings history on Frank's International click here. For more ratings news on Frank's International click here.

Shares of Frank's International closed at $12.37 yesterday.

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