Capital One Southcoast Upgrades Global Industries (GLBL) to Add
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Capital One Southcoast upgrades Global Industries, Ltd. (NASDAQ: GLBL) from Neutral to Add. Price target increased from $9 to $11.
Capital One analyst says, "Big upside 2Q with cost control and good execution wrapping up in Western Africa and rolling off Berri/Qatif. Orders and backlog trend still directionally down w/ near-term bookings uncertainty (and likely down 3Q seq rev trend), but overall much improved execution and profitability with a more disciplined approach to projects. '09 to $0.98 from $0.79 layering in the 2Q upside. Holding '10 est at $0.89. Still some scar tissue but operational improvements are continuing and warrant some multiple expansion and overall optimism."
To see more analyst ratings on GLBL Click Here.
Global Industries, Ltd., together with its subsidiaries, provides construction and subsea services to the offshore oil and gas industry.
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