Fly News Breaks for December 13, 2019
Dec 13, 2019 | 06:06 EDT
JPMorgan analyst Sean Meakim downgraded Oil States International to Underweight from Neutral with a price target of $12, down from $14, in conjunction with his 2020 Oil Services outlook. With the shares rallying 40% in two month, they now trade towards the upper-end of equipment peers, despite downside risks to U.S. Wellsite Services results in 2020 and uncertainty regarding Downhole Technology's recently commercialized suite of integrated perforating systems, Meakim tells investors in a research note. With the "bar raised" into 2020, risk to Oil States shares is skewed lower, contends the analyst.
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