Analyst Actions: Morgan Stanley Downgrades Calfrec Well Services And Trican Well Services

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Morgan Stanley ( MS ) "is downgrading Calfrac Well Services (CFW.TO) from Equal-Weight to Underweight, but leaving his C$27 price target unchanged. While he continues to believe the pumping market is in better shape in Canada than in the US , following recent outperformance vs. US pumping peers the analyst is waiting for a better entry point later in the year. He also thinks CFW could disappoint this quarter and is lowering his 1Q EPS est from C$1.24 to C$1.09."

Additionally, the analyst is also "downgrading Trican Well Services (TCW.TO) from Overweight to Equal-Weight, but leaving his C$17 price target unchanged. While he continues to believe the pumping market is in better shape in Canada than in the US, following recent outperformance vs. US pumping peers the analyst is waiting for a better entry point later in the year. He also thinks TCW could disappoint this quarter and is lowering his 1Q EPS est from C$0.67 to C$0.57."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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