Dril-Quip (DRQ +3%) is upgraded to Buy from Neutral by Global Hunter, which believes negative...

|By:, SA News Editor

Dril-Quip (DRQ +3%) is upgraded to Buy from Neutral by Global Hunter, which believes negative news is out of the way. While Q3 margins were weaker than expected and Q4 guidance was flat, the firm says orders are likely to set new records over the coming quarters; it believes a healthy backlog will turn into higher revenues and record earnings on industry leading margins.