BUZZ-Morgan Stanley upgrades oilfield services industry's outlook to attractive

Reuters04-18

** Morgan Stanley says strong oil prices and liquefied natural gas related activity have made it change the oilfield services' industry outlook to attractive

** Brokerage says OFS stocks are trading at a very steep discount to broader market relative to normal historial ranges

** Says there is potential for short-term catch up for global service stocks that over-reacted to Saudi Arabia's capacity growth pullback

** Adds North America activity is nearing a cyclical trough and international onshore and offshore are still in the upcycle

** "We think we may be nearing a point where it's time to lean back into North America stocks" - Morgan Stanley

** Raises PT of the following OFS companies -

Company Name PT Change

Baker Hughes $43 from

$40

Halliburton $50 from

$45

NOV $25 from

$24

(Reporting by Sourasis Bose in Bengaluru)

((Sourasis.bose@thomsonreuters.com))

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