Core Laboratories upgraded to Neutral from Sell at Citi

Citi analyst Scott Gruber upgraded Core Laboratories (CLB) to Neutral from Sell with a price target of $16, up from $15. With the stock down over 15% year-to-date, the risk/reward looks more balanced and further negative revision risk is likely minimal, the analyst tells investors in a research note. Further, Citi believes the potential easing of Russia/Ukraine geopolitical tensions could serve as a positive catalyst for Core as it would likely improve crude oil assay demand.