Core Labs Cut to Sell Equivalent at Morgan Stanley on International Exposure
Core Labs Cut to Sell Equivalent at Morgan Stanley on International Exposure
Core Laboratories (NYSE:CLB) -2% in Monday's trading after Morgan Stanley downgrades shares to Underweight from Equal Weight with a $20 price target, while Helmerich & Payne (NYSE:HP) +4.4% after the firm upgraded shares to Overweight from Equal Weight with a $55 PT, raised from $48.
Morgan Stanley analyst Connor Lynagh sees less potential for upside EBITDA and free cash flow revisions as well as higher leverage for Core Labs (CLB) relative to its peer group, as well as outsized exposure to longer-cycle international markets, where the analyst's activity estimates have decreased marginally vs. upward revisions for North American land markets.
However, the analyst thinks Core Labs' (CLB) outsized international and offshore activity exposure would be a relative benefit if oil prices and upstream activity surprise to the downside.
Meanwhile, Lynagh sees potential for peer-leading free cash flow revisions for Helmerich & Payne (HP) despite below average EBITDA upside and above average capex upside compared with peers.
The analyst also said Helmerich & Payne (HP) has an outsized share of idle top-tier U.S. land rigs, which likely will support near-term share growth for the company in the current market.
Helmerich & Payne's (HP) swung to positive net income in the most recent quarter is "an encouraging sign," Fun Trading writes in a bullish analysis posted recently on Seeking Alpha.
Core Laboratories (NYSE:CLB) -2% in Monday's trading after Morgan Stanley downgrades shares to Underweight from Equal Weight with a $20 price target, while Helmerich & Payne (NYSE:HP) +4.4% after the firm upgraded shares to Overweight from Equal Weight with a $55 PT, raised from $48.
Core Laboratories（纽约证券交易所代码：CLB）在周一的交易中下跌了2％，此前摩根士丹利将股票的评级从同等权重下调至减持，目标股价为20美元，而Helmerich & Payne（纽约证券交易所代码：HP）则上涨了4.4％，此前该公司以55美元的PT将股票从48美元上调至增持。
Morgan Stanley analyst Connor Lynagh sees less potential for upside EBITDA and free cash flow revisions as well as higher leverage for Core Labs (CLB) relative to its peer group, as well as outsized exposure to longer-cycle international markets, where the analyst's activity estimates have decreased marginally vs. upward revisions for North American land markets.
摩根士丹利分析师康纳·莱纳格认为上行潜力较小 税前利润 以及自由现金流的调整，Core Labs（CLB）相对于同行群体的杠杆率更高，以及对周期较长的国际市场的敞口过大，与北美土地市场的向上修正相比，分析师的活动估计略有下降。
However, the analyst thinks Core Labs' (CLB) outsized international and offshore activity exposure would be a relative benefit if oil prices and upstream activity surprise to the downside.
但是，分析师认为，如果油价和上游活动出人意料地下行，Core Labs（CLB）庞大的国际和海上活动敞口将是相对的好处。
Meanwhile, Lynagh sees potential for peer-leading free cash flow revisions for Helmerich & Payne (HP) despite below average EBITDA upside and above average capex upside compared with peers.
同时，Lynagh认为，尽管与同行相比，息税折旧摊销前利润的上行空间低于平均水平，资本支出上行空间也高于平均水平，但Helmerich & Payne（HP）仍有可能进行同行领先的自由现金流调整。
The analyst also said Helmerich & Payne (HP) has an outsized share of idle top-tier U.S. land rigs, which likely will support near-term share growth for the company in the current market.
分析师还表示，Helmerich & Payne（HP）在美国闲置的顶级陆地钻机中占有巨大份额，这可能会支持该公司在当前市场上的短期份额增长。
Helmerich & Payne's (HP) swung to positive net income in the most recent quarter is "an encouraging sign," Fun Trading writes in a bullish analysis posted recently on Seeking Alpha.
Fun Trading在最近在Seeking Alpha上发布的看涨分析中写道，Helmerich & Payne（HP）在最近一个季度净收入转为正是 “一个令人鼓舞的迹象”。
译文内容由第三方软件翻译。
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