Barclays Maintains 'Equalweight' on TETRA Technologies (TTI); Selling Maritech; Increasing P&A Exposure

Barclays maintains 'Equalweight' on TETRA Technologies Inc. (NYSE: TTI), PT from to $14 to $16.

Barclays analyst says, "We are adjusting our 2011 EPS estimate to $0.55 (from $0.60) for the sale of Maritech partially offset by improvements in the Fluids, Offshore Services, and Production Testing businesses. We are raising our 2012 EPS estimate to $0.95 (from $0.85) reflecting a more positive view on Gulf of Mexico activity in 2012."

"We believe TETRA will benefit from the coming increase in decommissioning activity, particularly as a strong summer season in the Gulf of Mexico kicks in and as the pace of permitting improves. Fluids should also experience a solid revenue and earnings ramp as deepwater completions resume at more normalized levels. With the sale of Maritech, we believe the shift of capital out of oil and gas assets and into the plug and abandonment and decommissioning businesses is the right move for TETRA."

For more ratings news on TETRA Technologies Inc. click here and for the rating history of TETRA Technologies Inc. click here.

Shares of TETRA Technologies Inc. closed at $13.98 yesterday.

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