UPDATE: UBS Downgrades Frank's International (FI) to Sell
- Wall St. set to rise ahead of Trump inauguration
- General Electric (GE) Reports In-Line Q4 EPS
- Procter & Gamble (PG) Tops Q2 EPS by 2c
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Pre-Open Stock Movers 01/20: (SWKS) (EMES) (CF) Higher; (PSTI) (AFMD) (BMY) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
(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.
Shares of Frank's International closed at $12.37 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- Skyworks Solutions (SWKS) PT Raised to $96 at Canaccord Genuity
- UPDATE: SunTrust Robinson Humphrey Downgrades LSI Corporation (LSI) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Downgrades
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!