Piper Jaffray analyst Ian Macpherson reiterated a Hold rating on Core Laboratories (NYSE: CLB) on October 25 and set a price target of $87. The company’s shares closed on Friday at $87.05, close to its 52-week low of $85.09.
According to TipRanks.com, Macpherson is a 1-star analyst with an average return of -2.2% and a 38.6% success rate. Macpherson covers the Basic Materials sector, focusing on stocks such as Select Energy Services Inc, Diamond Offshore Drilling, and Transocean LTD.
Currently, the analyst consensus on Core Laboratories is a Moderate Buy with an average price target of $112.29, implying a 29.0% upside from current levels. In a report issued on October 18, Merrill Lynch also resumed coverage with a Hold rating on the stock with a $116 price target.
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Based on Core Laboratories’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $22.41 million. In comparison, last year the company had a net profit of $21.09 million.
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Core Laboratories NV engages in the provision of proprietary and patented reservoir description, production enhancement, and reservoir management services to the oil and gas industry. It operates through the following business segments: Reservoir Description, Production Enhancement, and Reservoir Management.
