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.
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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