Barclays analyst J. David Anderson upgraded Dril-Quip to Equal Weight with an unchanged price target of $39. Offshore Services & Equipment orders and activity are poised to inflect over the next 12 months, Anderson tells investors in a research note. He believes this is one of the better positioned verticals in Oilfield Services given business differentiation and high barriers to entry with fewer competitors compared to other markets. Further, the analyst expects book-to-bill ratios to improve over the back half of the year as companies directly benefit from "greenfield offshore projects moving ahead."