Ahead Of The Bell: Willbros Group Upgraded
HARTFORD, Conn. (AP) ¿ An analyst upgraded Willbros Group Inc. Friday on signs that the oil industry contractor's key operations are improving.
Analyst Tahira Afzal of KeyBanc Capital Markets upgraded the Houston company to Buy" from "Hold" and established a price target of $21.
Willbros Group reported worse-than-expected third-quarter earnings Wednesday, but its revenue surpassed Wall Street expectations.
Afzal said in a client note that Willbros management provided an upbeat outlook for its explorations and refining businesses in the first half of 2010.However, she warned that Willbros Group's share price could "remain choppy" after spiking 11 percent Thursday on good news about the company's bookings in the third quarter. Consistent bookings growth will not likely return until the second half of next year, she said. Willbros said Wednesday it earned $1.7 million, or 4 cents per share, down 92 percent from $19.7 million, or 49 cents per share in the same quarter last year. Analysts surveyed by Thomson Reuters expected Willbros Group to earn 11 cents per share.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV