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NEW YORK (AP) — Given expectations for a rebound in oil prices, investors should look to oil services stocks with a strong balance sheet, international deepwater exposure and low-priced shares, said an analyst as he highlighted some companies and downgraded others.
Jefferies & Co. analyst Stephen Gengaro raised his 2009 and 2010 benchmark oil price estimates to $55 and $65 from $45 and $55, respectively, based on expectations for a 2010 economic recovery and demand rebound amid weak non-OPEC supply growth.
Gengaro listed as favorites Baker Hughes Inc., Cameron International Corp., McDermott International Inc. and Weatherford International Ltd. ...
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