National Energy Services reinstated with an Overweight at Barclays

Barclays reinstated coverage of National Energy Services (NESR) with an Overweight rating and $16 price target National Energy focuses on providing essential drilling and completions services exclusively in the Middle East region, enabling the company to achieve strong revenue growth and elevated EBITDA margins in the low-to-mid 20s, the analyst tells investors in a research note. The firm views the stock’s current valuation as attractive.