Wunderlich Securities Upgrades Core Labs (CLB) to Buy
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Wunderlich Securities upgrades Core Labs (NYSE: CLB) from Hold to Buy. Price target increased from $94 to $140.
Wunderlich analyst says, "Core Laboratories (CLB) reported 3Q09 numbers ($1.15/share EPS vs. $1.12 Street estimate) that beat consensus and guided to slightly higher 4Q09 figures than previously forecasted. However, we believe the big catalysts for Core Labs are the expected increase in margins going forward and activity due to its strong worldwide operations. Based on our new expected growth, we are upgrading shares to a Buy rating and increasing our price target to $140/share...While we acknowledge the multiple is rather high, we argue the company's returns versus its peers warrants the premium as it has in the past."
To see more analyst ratings on CLB Click Here.
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