Frank s International Coverage Initiated at Goldman Sachs Group Inc. (FI)
Analysts at Goldman Sachs Group Inc. assumed coverage on shares of Frank s International (NYSE:FI) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $29.00 price target on the stock. Goldman Sachs Group Inc.’s price target would suggest a potential upside of 3.20% from the stock’s previous close.
The analysts wrote, “We initiate coverage of Frank’s International (FI) with a Neutral rating and a $29, 12-month target price. Since the August 8 IPO at the upper end of the indicated range, FI, a provider of tubular services to the oil and gas industry, is up 28% (vs. OSX up 3.8%). Positives include industry-leading ROCE and operating margins and high leverage to offshore/deepwater drilling, but we think the stock’s current premium valuation reflects this. For further outperformance, we expect either further multiple expansion or EPS growth exceeding peers. We see multiple expansion as unlikely, and EPS growth rate of high-single digits is third quartile; hence we are Neutral.”
Frank s International (NYSE:FI) traded up 4.02% during mid-day trading on Wednesday, hitting $29.23. The stock had a trading volume of 134,807 shares. Frank s International has a 1-year low of $25.76 and a 1-year high of $28.90. The stock has a 50-day moving average of $27.55 and a 200-day moving average of $27.55. The company has a market cap of $4.356 billion and a price-to-earnings ratio of 3.95.
Frank s International (NYSE:FI) last announced its earnings results on Wednesday, September 18th. The company reported $0.85 earnings per share for the quarter. The company had revenue of $292.98 million for the quarter, compared to the consensus estimate of $262.69 million.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. initiated coverage on shares of Frank s International (NYSE:FI) in a research note to investors on Wednesday. They set a “buy” rating on the stock. Analysts at UBS AG initiated coverage on shares of Frank s International (NYSE:FI) in a research note to investors on Wednesday. They set a “buy” rating on the stock.
Frank s International NV is a Netherlands-based company. It provides a broad and comprehensive range of tubular technologies to the oil and gas industry.
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