Sector Snap: Oil Service Companies Rise On Upgrade

NEW YORK (AP) — Shares of oil service companies advanced on Tuesday after an analyst upgraded the sector on an expected rebound in commodity prices and a belief that uncertainty in oilfield services stocks will decline.

Goldman Sachs analyst Daniel Boyd said his stock preference is shifting more toward more volatile stocks which have reached attractive prices and away from more defensive stocks.

Boyd upgraded Weatherford International Inc. and Halliburton Corp. to "Conviction Buy" from "Neutral." He said Halliburton is trading at a discount compared to its peers, which he believes is unjustified considering its market share and solid balance sheet. ...