BUZZ-TD Cowen changes PT on US oilfield services companies

Reuters01-07
BUZZ-TD Cowen changes PT on US oilfield services companies

** TD Cowen changes PT on U.S.-based oilfield services company, following capture of Nicolás Maduro and as investors anticipate increased oilfield investment in Venezuela

** Brokerage says increased investment in Venezuela will take time and need strong U.S. government guarantees

** "The stock move seems overdone given Venezuela’s small revenue share, but OFS stocks remain attractively valued and Venezuela could still act as a catalyst," TD Cowen says

** However, brokerage cuts PT on Baker Hughes BKR.O and SLB SLB.N citing guidance risks and conservative outlook, with prior SLB revisions tempering upside

Brokerage changes PT on following companies:

Company

New PT

Old PT

Upside/Downside to stock's last close

HalliburtonHAL.N

$39

$38

26.5%

Helmerich and PayneHP.N

$35

$33

12.68%

Liberty Energy LBRT.N

$19

$15

No change

NOV INC NOV.N

$22

$19

30.17%

Baker Hughes BKR.O

$55

$57

11.38%

SLB SLB.N

$55

$57

26.06%

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))

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