** 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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