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Barclays Analyst Upgrades Expro Group Holdings Nv to Strong Buy with 50% Price Target Increase

By Don Francis, Editor
May 15, 2024 7:03 AM UTC
Barclays Analyst Upgrades Expro Group Holdings Nv to Strong Buy with 50% Price Target Increase

Barclays's David Anderson upgraded their rating on Expro Group Holdings Nv (NYSE: XPRO) from Hold to Strong Buy on 2024/05/14. The analyst also raised their price target by 50% from $18 to $27.

Anderson provided investors with some context for the rating upgrade and price target hike. According to the analyst, Barclays adjusted its Energy (Offshore Oil & Gas Equipment & Services) coverage after the Q1 2024 earnings season. While TechnipFMC remains Barclays' top pick in the group, Anderson noted that there is "stark differentiation among Smid Caps."

The analyst expressed continued optimism about offshore drillers and paired the upgrade on Expro Group Holdings Nv with a downgrade on Oceaneering International. Anderson's firm remains constructive on the offshore drillers, indicating a positive outlook for Expro Group Holdings Nv.

In addition to the rating upgrade and price target hike on Expro Group Holdings Nv, Anderson made changes to other names in their portfolio on May 14, 2024. They lowered their price target on Oceaneering International Inc by -4.5%, from $22 to $21, and downgraded the stock from Hold to Strong Sell. Similarly, the price target on Dril Quip Inc was lowered by -4.5%, from $22 to $21, while maintaining a Strong Sell rating.

It is worth noting that 100% of top-rated analysts currently rate Expro Group Holdings Nv (XPRO) as a Strong Buy or Buy. None of the analysts see it as a Hold, and there are no recommendations or strong recommendations to sell the stock.

Looking at the stock's performance, it has seen a year-over-year increase of 16.5%. However, it is trailing behind the S&P 500, which has seen a 26.8% increase during the same period.

Barclays analyst David Anderson is ranked in the top 13% out of 4,585 Wall Street analysts by WallStreetZen. Anderson has an average return of 6.1% and a win rate of 54.6%. The analyst specializes in various sectors, including Consumer Defensive and Technology.

Expro Group Holdings N.V. operates in the oil & gas production sector, serving both North America and international markets with approximately 100 locations. The company offers well construction services, such as drilling, tubular running services, and cementing and tubulars. Additionally, it provides well management services, including well flow management, subsea well access, and well intervention and integrity services. Founded in 1938, the company is based in Houston, TX.

What are the top analysts predicting for Expro Group Holdings Nv?

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