TD Cowen changes PT on US oilfield services companies
TD Cowen changes PT on U.S.-based oilfield services company, following capture of Nicolás Maduro and as investors anticipate increased oilfield investment in Venezuela
Brokerage says increased investment in Venezuela will take time and need strong U.S. government guarantees
"The stock move seems overdone given Venezuela’s small revenue share, but OFS stocks remain attractively valued and Venezuela could still act as a catalyst," TD Cowen says
However, brokerage cuts PT on Baker Hughes BKR.O and SLB SLB.N citing guidance risks and conservative outlook, with prior SLB revisions tempering upside
Brokerage changes PT on following companies:
Company | New PT | Old PT | Upside/Downside to stock's last close |
HalliburtonHAL.N | $39 | $38 | 26.5% |
Helmerich and PayneHP.N | $35 | $33 | 12.68% |
Liberty Energy LBRT.N | $19 | $15 | No change |
NOV INC NOV.N | $22 | $19 | 30.17% |
Baker Hughes BKR.O | $55 | $57 | 11.38% |
SLB SLB.N | $55 | $57 | 26.06% |
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