Jefferies Maintains Buy on TETRA Technologies (TTI)

Jefferies is out with its report today on TETRA Technologies TTI, maintaining Buy. In a note to clients, Jefferies writes, "Management observed favorable trends during 4Q from all of its businesses with revenues growing sequentially, with the exception of Offshore Services, which was expected. TTI will release 4Q10 financial statements on February 25. TTI's preliminary 4Q pretax earnings, excluding $109 million in charges, should range from $4.0-9.0 million versus our $4.6 million forecast and the Consensus of $12.0 million. Actual 4Q pretax loss is estimated at $100-$105 million, which includes charges of $109 million. Maintain Buy with $14 price target." Shares of TTI closed Friday at $12.21.