Oil States International (OIS) gained 19.7% last week after Jefferies initiated coverage on the stock with a buy rating and a price target of $95, indicating 25.2% upside from current levels. Analysts believe that the company will continue benefit to from its high-margin, growing Canadian and Australian accommodation business, as well from as continued growth in NAM land and offshore development activity.
Transocean was at the helm of losers last week, retreating 3.9% after Fitch Ratings assigned a triple-B-minus rating to the senior unsecured note offering of $2.5 billion that the company made on Nov. 30. The rating agency has affirmed a negative outlook for the company, reflecting the uncertainties surrounding the company's liability exposure related to the Macondo incident and oil spill in the Gulf of Mexico last year.
Holly Energy Partners dropped 2.6% last week. InterOil (IOC) followed, down 1.6%.