National Energy Services gains as BMO starts with 'outperform'
NESR•BMO initiated coverage of National Energy Services Reunited with an “outperform” rating and a $39 price target, citing market-share gains and growth driven by its Jafurah contract.
1. BMO initiates coverage
BMO said National Energy Services Reunited had gained share in Middle East oilfield-services markets and that its Jafurah contract was driving faster growth. The company targets $3 billion in annual revenue by the end of 2028, BMO said; its shares traded at 10.35 times expected earnings for the next 12 months, below the industry median of 13.78.
