Credit Suisse downgraded Frank's International (NYSE: FI) from Outperform to Neutral with a price target of $18.00.

Analyst J. Wicklund commented, "Frank's stated that it is a tough market. They expect 2016 to be another down year, with continued pressure on activity and pricing. While expecting oil prices generally to come into balance in 2016, management noted that US Land will come back quickest and sharpest, though its currently operating below breakeven."

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Shares of Frank's International closed at $17.21 yesterday.