Seeking Alpha

Newpark Resources cut to Neutral at Global Hunter

Newpark Resources (NR -2.9%) is downgraded to Neutral from Accumulate with a $13 price target (from $14) at Global Hunter.

The firm models NR posting a slight beat this quarter vs. the Street but thinks the stock is valued properly, seeking more clarity on how to replace the potential lost earnings from environmental services, a more firm outlook for fluids margins reaching and sustaining low double digits, and for the market to better understand the P&L impact of the spill containment system.

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