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 (11168) | 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 (10260) | 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 (10) | 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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