The firm raised the price target to $27 from $22 for the tubular services provider.
Credit Suisse said management better understands investors' needs and is accelerating the implementation of numerous operating initiatives.
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"At its core, this is a very well managed engineering company, generating 40%+ EBITDA margins, with no debt, positive [economic value added] and a global duopoly," said Credit Suisse analyst James Wicklund.
Separately, TheStreet Ratings team rates FRANK'S INTL NV as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate FRANK'S INTL NV (FI) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- FI's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 36.14%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
- The net income growth from the same quarter one year ago has exceeded that of the S&P 500, but is less than that of the Energy Equipment & Services industry average. The net income increased by 16.0% when compared to the same quarter one year prior, going from $40.81 million to $47.35 million.
- Despite its growing revenue, the company underperformed as compared with the industry average of 14.6%. Since the same quarter one year prior, revenues slightly increased by 9.7%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- FI's debt-to-equity ratio is very low at 0.00 and is currently below that of the industry average, implying that there has been very successful management of debt levels.
- Compared to other companies in the Energy Equipment & Services industry and the overall market on the basis of return on equity, FRANK'S INTL NV has underperformed in comparison with the industry average, but has exceeded that of the S&P 500.
- You can view the full analysis from the report here: FI Ratings Report