(DRQ) Dril-Quip Incorporated – Bear of the Day

We are downgrading our recommendation on Dril-Quip, Inc. (DRQ) to Underperform from Neutral. The company remains exposed to the highly volatile oil and gas sector fundamentals.

We remain concerned about company-specific risks, which include new product growth challenges and potential backlog losses. Additionally, delays in deepwater infrastructure awards may also hinder the growth prospect of Dril-Quip.

The company has also exhibited restricted growth in the past few quarters and we remain cautious going forward. However, increased deepwater activity over the near term, recent capacity additions in Brazil and Singapore, as well as ongoing capacity expansions could prove beneficial over time.

DRIL-QUIP INC (DRQ): Free Stock Analysis Report

View original at: Zacks Investment Research – All Commentary Articles

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