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Fly News Breaks for January 6, 2020
VAL, RES, OIS, FTSI, MRC, LBRT, NEX, HAL
Jan 6, 2020 | 07:39 EDT
As previously reported, Scotiabank analyst Vaibhav Vaishnav upgraded Halliburton (HAL), NexTier Oilfield (NEX), Liberty Oilfield Services (LBRT), and MRC Global (MRC), all to Outperform, as part of his Q4 preview and U.S. Oilfield Services rebalancing note. In 2019 he was bearish NAM and bullish offshore equipment and international services, though he is now getting more constructive on NAM, the analyst explained. He had been getting more bullish on pressure pumping and now identifies it as his favorite sub-sector, Vaishnav added. He also downgraded FTS International (FTSI) and Valaris (VAL), citing a lack of free cash flow, and cut Oil States (OIS) and RPC, Inc.(RES) on valuation. All four of those downgrades took the stocks down to Underperform.
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