UPDATE: Credit Suisse Upgrades Exterran Holdings (EXH) to Outperform, Price Target Raised ~48%
Tweet Send to a FriendGet Alerts EXH Hot Sheet
Price: $29.47 +0.51%
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade EXH Now!
Credit Suisse upgraded shares of Exterran Holdings (NYSE: EXH) to an Outperform rating from their previous rating of Underperform as they raise their price target on the company to $31 from $21, ~48% increase.
The firm believes that the stage is set for the company to recover from recent hard times, since November of 2010 EXH is down 9% compared to the OSX which is up 25% since then.
Credit Suisse reports that the expected stabilization in the U.S. fleet utilization for the next few quarters and in their costs, an appropriate setting of expectations for non-NAM recovery, expected healthy free cash flow, and a more robust outlook for MLP (EXLP) demand is what is driving their price target up 48%.
They are lowering their 2011 EPS and EBITDA estimates on EXH to ($1.25) and $409 million from ($0.85) and $460 million and their 2012 estimates to ($0.65) $482 million from ($0.35) and $561 million. The firm notes that their Cash Flow From Operations after Maintenance Capex per share of $6.70 for 2011-2012 combined remains significant.
For more ratings news on Exterran Holdings click here and for the rating history of Exterran Holdings click here.
Shares of Exterran Holdings closed at $21.92 yesterday, with a 52 week range of $20.00-$30.28.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm believes that the stage is set for the company to recover from recent hard times, since November of 2010 EXH is down 9% compared to the OSX which is up 25% since then.
Credit Suisse reports that the expected stabilization in the U.S. fleet utilization for the next few quarters and in their costs, an appropriate setting of expectations for non-NAM recovery, expected healthy free cash flow, and a more robust outlook for MLP (EXLP) demand is what is driving their price target up 48%.
They are lowering their 2011 EPS and EBITDA estimates on EXH to ($1.25) and $409 million from ($0.85) and $460 million and their 2012 estimates to ($0.65) $482 million from ($0.35) and $561 million. The firm notes that their Cash Flow From Operations after Maintenance Capex per share of $6.70 for 2011-2012 combined remains significant.
For more ratings news on Exterran Holdings click here and for the rating history of Exterran Holdings click here.
Shares of Exterran Holdings closed at $21.92 yesterday, with a 52 week range of $20.00-$30.28.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Hewlett-Packard (HPQ) Q2 Performance Wins Praise on Wall Street; Jefferies Raises to Hold
- Sidoti Upgrades Nordion Inc (NDZ) to Buy
- SunTrust Robinson Humphrey Upgrades VeriFone (PAY) to Buy
Create E-mail Alert Related Categories
UpgradesRelated Entities
Credit Suisse
Login with Facebook
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!
