Evercore ISI Downgrades Drilling Companies
Evercore ISI analyst James West commented in an analyst note Monday that oil services companies estimates have been reduced across the board.
The steepest declines were forecasted for companies heavily exposed to North America where E&P expenditures are expected at -10 percent in 2015 vs. prior expectations of +8 percent.
According to the note, oil prices are not expected to fully rebound until the second half of 2015.
Below are the firm's rating changes along with current price targets:
GulfMark Offshore, Inc (NYSE: GLF) - From Hold to Sell, $20 price target
Oil States International, Inc. (NYSE: OIS) - From Buy to Hold, $50 price target
Parker Drilling Company (NYSE: PKD) - From Buy to Hold, $4 price target
RPC, Inc. (NYSE: RES) - From Buy to Hold, $18 price target
Seadrill Ltd (NYSE: SDRL) - From Buy to Hold, $20 price target
Latest Ratings for GLF
Nov 2014 | Evercore ISI | Downgrades | Hold | Sell |
Sep 2014 | Tudor Pickering | Downgrades | Accumulate | Hold |
Jul 2014 | RS Platou | Downgrades | Neutral | Sell |
View More Analyst Ratings for GLF
View the Latest Analyst Ratings
See more from Benzinga
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
