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Goldman Sachs believes the selloff in oil service stocks creates a buying opportunity, as it...
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Thursday, March 21, 9:38 AM ETGoldman Sachs believes the selloff in oil service stocks creates a buying opportunity, as it sees Q1 earnings growing at a faster rate driven by completion work. The firm expects Halliburton (HAL) to report in-line Q1 results and recommends buying on the recent pullback, suggests Basic Energy (BAS) on better utilization, and likes Nabors Industries (NBR) on relative valuation.
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This news story has 9 comments:
You raise a valid question,
I'm going to go out on the limb here and say this call is genuine. I noted that GS reported earlier this year that HAL was a member of its best picks list and they cited NOV as one of the most undervalued companies around.
This sector may see a positive money flow as investors rotate from sectors that are overbought to those that have lagged. Especially the stocks that have attractive yields. i.e RIG (4%),ESV (3.5%)
Long ESV, RIG
They "advised" DOW Chemical into several and it only cost DOW a cool $1B fine + interest because they were illegal.
Excuse me if I take any advice from GS with something less than enthusiasm.
Nokia (NOK) rated a "sell" by Goldman. Goldman buys over 60M shares while rating (NOK) a "sell."
Something is rotten on Wall Street.
Schlumberger comment that started the selloff - it may be true that revenues for US LAND are off. But I expect this to be fully offset by Gulf of Mexico and International.
Venezuela - what can be said other than that has been a disaster for all the service companies for years - with no end in sight.
senior citizens who wanrt to learn and avoid social garbage rendering like the plague. Thank you.