April 12, 2018 / 11:03 AM / 8 months ago

BUZZ-JPM cuts PTs of oilfield services cos, including Halliburton

    ** JP Morgan says investor sentiment turning negative
despite a relatively healthy demand outlook for 2019
    ** Cuts PTs on oilfield service providers including
Halliburton and Schlumberger
    ** With light crude >$60, JPM says producers could
increase budget in 2018 and accelerate well completion, but
logistical issues could cap pricing gains
    ** Brokerage says battle for frac market share heating up
with smaller cos gaining traction
    ** JPM maintains relatively "constructive outlook" for
pressure pumping demand but expects flat frac pricing through
2019

 JP Morgan cuts PTs of oilfield services firms
                                     Current     Previous
 Halliburton                         $58         $60
 Keane Group                         $24         $26
 Liberty Oilfield Services           $32         $34
 Patterson-UTI Energy                $24         $26
 ProPetro Holding                    $22         $24
 Schlumberger                        $77         $79
 Superior Energy Services            $11         $12
 Trican Well Service                 C$5         C$6
                                        

 (Reporting by Anirban Paul)
  
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