Oil States initiated with Outperform, $10 target at Raymond James

Raymond James analyst James Rollyson last night initiated coverage of Oil States with an Outperform rating and $10 price target. Oil States International is a global provider of manufactured products and services to the energy, industrial, and military sectors, the analyst tells investors in a research note. The current share price implies investors are getting the company’s two U.S. land completions oriented segments for “nearly free,” providing an inexpensive call option on any U.S. recovery over the 2024/2025 timeframe, the firm contends.