UPDATE: Evercore ISI Double Upgrades TETRA Technologies Inc. (TTI) to Outperform
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Evercore ISI analyst James West upgraded TETRA Technologies Inc. (NYSE: TTI) from Underperform to Outperform with a price target of $3.00.
The analyst comments "Meaningful Shift with Partial Sale of CCLP. TETRA finalized the sale of its CCLP GP units, IDRs and 10.95M common units to Spartan Energy Partners for $13.95M, which follows the sale of 15 large compressor units to the Texas-based private company for $14.2M in December. An additional $3.1M is contingent upon certain financial targets, with TTI retaining 5.2M common units or a minority 11% stake in CCLP. The company will continue to provide back office G&A support under a Transition Service Agreement for an unspecified period of time, but overall, we believe TETRA is a fundamentally different company that deserves another look."
Shares of TETRA Technologies Inc. closed at $1.43 yesterday.
You May Also Be Interested In
- BlueScope Steel Limited (BSL:AU) (BLSFY) PT Raised to AUD22.50 at Credit Suisse
- Shinhan Financial Group (055550:KS) (SHG) PT Raised to KRW48,000 at Morgan Stanley
- ESR Cayman Ltd (1821:HK) (ESRCF) PT Raised to HK$29.20 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Upgrades, Upgrades
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!