Susquehanna cuts PTs on US oilfield service firms
** Susquehanna lowers price targets on oilfield service cos as it sees Q3 U.S. drilling and completions activity to go down from Q2
** Brokerage sees downward trend due to low natural gas prices, delays in activity due to E&P mergers, drilling efficiencies and a focus on returns and cash flow
** Susquehanna expects tempered growth in the oilfield services sector in the U.S. and internationally
Brokerage changes PT of the following firms:
Company | New PT | Old PT | Rating |
Halliburton HAL.N | $42 | $46 | Positive |
Noble Corp NE.N | $40 | $47 | Neutral |
NOV Inc NOV.N | $22 | $26 | Positive |
Oil States International OIS.N | $5 | $5.50 | Neutral |
Patterson-UTI Energy PTEN.O | $10 | $13 | Positive |
Transocean Ltd RIG.N | $7 | $8 | Positive |
SLB SLB.N | $60 | $70 | Positive |
Valaris VAL.N | $61 | $62 | Neutral |
Reporting by Pooja Menon in Bengaluru
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