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What Do Almost Half of Core Laboratories’s Analysts Recommend?

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Wall Street’s forecasts for Core Laboratories

In this article, we’ll look at Wall Street analysts’ forecasts for Core Laboratories’s (CLB) shares following its 2Q16 earnings release.

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Consensus rating for Core Laboratories

Approximately 47% of analysts tracking Core Laboratories (CLB) rate it a “buy” or some equivalent. Approximately 41% rate the company a “hold” or an equivalent. Only 12% of the analysts recommended a “sell.” Core Laboratories comprises 0.3% of the iShares MSCI USA ESG Select ETF (KLD). The energy sector makes up 4.2% of KLD.

In comparison, approximately 60% of analysts tracking Flotek Industries (FTK) rate it a “buy” or some equivalent, and approximately 40% rated it as a “sell.”

Analysts’ recommendations for CLB

When it comes to individual recommendations, RBC Capital Markets, a part of the Royal Bank of Canada, gave Core Laboratories a target price of $140, one of its highest target prices. Core Laboratories currently trades near $124, implying an ~13% return for the next 12 months. Stephens Inc. gave CLB a one-year target price of $98, one of its lowest target prices following the 2Q16 earnings release. This implies a -21% return over the next year.

Among the large investment banks, Piper Jaffray gave Core Laboratories a one-year target price of $115. This implies a -7% return at its current price over the next 12 months.

Analysts’ target prices for CLB

Following the 2Q16 financial result, the highest target price for CLB is $140.00, and the lowest is $90.40. The median target price, surveyed among the sell-side analysts, for CLB is ~$123. CLB is currently trading at ~$124, implying an ~1% downside at its median price.

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