Jefferies Upgrades Newpark Resources To Buy

According to Jefferies, Newpark Resources NR is upgraded to Buy. Jefferies said that it believes that Newpark's Drilling Fluids business is well positioned to grow rapidly over the next few years fueled by North American shale activity, improvement on the Gulf of Mexico, growth in Brazil and rising activity in other select international areas. “We are upgrading shares to Buy from Hold and raising our price target to $13 from $8.” Newpark Resources closed yesterday at $8.85.