Credit Suisse Upgrades Core Laboratories (CLB) to Outperform

Credit Suisse upgraded Core Laboratories (NYSE: CLB) from Neutral to Outperform with a price target of $110.00.

Analyst Greg Lewis says the sell-off provides an attractive level to accumulate shares. The analyst believes the premium valuation is warranted and expects the company to generate upwards of $92 million in FCF in 2017 which is a CF yield of 2.3%. Lewis expects the Production Enhancement revenue to move higher citing benefits from increased product sales of completions equipment tied to more complex well completions.

For an analyst ratings summary and ratings history on Core Laboratories click here. For more ratings news on Core Laboratories click here.

Shares of Core Laboratories closed at $90.15 yesterday.

You May Also Be Interested In

• Shin-Etsu Chemical Co Ltd. (4063:JP) (SHECY) PT Raised to JPY21,500 at Citi
• GMO Internet Inc. (9449:JP) (GMOYF) PT Raised to JPY3,100 at Credit Suisse
• Kingfisher Plc. (KGF:LN) (KGFHY) PT Lowered to GBP2.45 at JPMorgan