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Fly News Breaks for January 2, 2020
CLB
Jan 2, 2020 | 06:15 EDT
Stifel analyst Stephen Gengaro downgraded Core Laboratories to Hold from Buy with a price target of $40, down from $50, after the company cut its Q4 guidance, provided Q1 guidance below the consensus and slashed its quarterly dividend. In a research note to investors, Gengaro says that in the near term, headwinds in the U.S. leveraged Production Enhancement segment and uncertainty on the timing of a recovery in the internationally leveraged Reservoir Description business.
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