Seeking Alpha

Barclays is bullish on oil services, raises price targets

  • Barclays expects the oil services group (OIH) to significantly outperform the broader equity market over the next several years, and raises its price targets for several sector leaders (Briefing.com).
  • The industry remains in the early days of a prolonged global upcycle, the firm says, and consequently market fundamentals should favor oil services, equipment and drilling companies.
  • SLB target to $138 from $124; SPN to $42 from $39; OII to $103 from $96; NOV to $102 from $93; HAL to $86 from $76; GLF to $63 from $58; DRQ to $77 from $64; CAM to $82 from $77; CJES to $34 from $30; BHI to $81 from $71.
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Comments (5)
  • Michael Fitzsimmons
    , contributor
    Comments (9493) | Send Message
     
    Interesting call on DRQ considering the stock is currently trading around $109:

     

    http://seekingalpha.co...

     

    Did they mean DRC?
    17 Dec 2013, 05:49 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6425) | Send Message
     
    I Like CAM for 2014 ,

     

    http://seekingalpha.co...
    17 Dec 2013, 06:07 PM Reply Like
  • bomc
    , contributor
    Comment (1) | Send Message
     
    I hope!
    17 Dec 2013, 08:25 PM Reply Like
  • Ksweeney
    , contributor
    Comments (6) | Send Message
     
    SLB to $138? What kind of time horizon are they suggesting. What does "several years" mean?
    17 Dec 2013, 08:33 PM Reply Like
  • Chase Levay
    , contributor
    Comments (46) | Send Message
     
    Offshore E&P to be big in 2014
    18 Dec 2013, 10:12 AM Reply Like
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