UPDATE: UBS Downgrades Frank's International (FI) to Sell
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Oil prices under pressure as Iraq resists joining output cut
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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
- Time Warner (TWX) PT Raised to $102 at Brean Capital
- Chesapeake Energy (CHK) PT Raised to $7 at Credit Suisse
- Intercept Pharmaceuticals (ICPT) PT Lowered to $200 at Oppenheimer, Keeps 'Outperform'
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!