Oil States Int'l Has Higher Price Target After Impressive 3Q

Jefferies & Company Inc. has published a research report on Oil States Int'l OIS following an impressive 3Q. Jefferies & Company writes, "OIS reported third-quarter EPS of $0.88 per diluted share, easily exceeding our $0.74 estimate and the $0.78 consensus. OIS posted $0.71 in the prior quarter and $0.53 a year ago. Of the $12.7 million sequential EBITDA rise and $10.3 million upside versus our forecast, Accommodations was the biggest driver accounting for 60% of the sequential rise and 47% of the beat versus our forecast. Well Site was next, accounting for 36% of the sequential rise and 33% of the beat versus our forecast." Jefferies & Company has increased the price target from $63.00 to $66.00 and has set a Buy rating. Oil States Int'l closed Friday at $53.47.