Wall St. Watchdog reveals information about companies for which stock analysts initiated coverage in the Basic Materials sector for the week ending October 28th, 2011:
- Lufkin Industries (NASDAQ:LUFK): Global Hunter Securities initiated coverage of this company with a rating of Buy and a price target of $68. About the company: Lufkin Industries, Inc. designs, manufactures, sells, and services oil field pumping units, power transmission products, and foundry castings. The Company sells its products around the world.
- Chemtura (NYSE:CHMT): Oppenheimer initiated coverage of this company with a rating of Perform. About the company: Chemtura Corporation manufactures plastics and other chemicals. The Company produces urethane polymers; plastic additives, including flame retardants; pool and spa products; seed treatment and miticides; and petroleum additives. Chemtura operates worldwide.
- Gulf Island Fab (NASDAQ:GIFI): KeyBanc Capital Mkts initiated coverage of this company with a rating of Buy and a price target of $37. About the company: Gulf Island Fabrication, Inc. makes offshore drilling and production platforms and other specialized structures used in the development and production of offshore oil and gas reserves. Products include jackets and deck sections of fixed production platforms, hull and deck sections of floating production platforms, piles, wellhead protectors, subsea templates, and various modules.
- Global Industries (NASDAQ:GLBL): KeyBanc Capital Mkts initiated coverage of this company with a rating of Hold. About the company: Global Industries, Ltd. provides oil-field construction services. Services include pipeline construction, platform installation and removal, diving services, and construction support. The Company provides its services to the offshore oil and gas industry in the United States Gulf of Mexico and in select international areas.
- Stone Energy (NYSE:SGY): Global Hunter Securities initiated coverage of this company with a rating of Buy and a price target of $35. About the company: Stone Energy Corporation is an independent oil and gas company. The Company acquires, explores, develops, and operates oil and gas properties onshore and offshore in the Gulf Coast Basin.
- Triangle Petroleum (AMEX:TPLM): KeyBanc Capital Mkts initiated coverage of this company with a rating of Hold. About the company: Triangle Petroleum Corp. is an oil and gas exploration company. The Company is focused on the acquisition and development of acreage in the Williston Basin in North Dakota and the development and exploitation of its existing asset base in the Maritimes Basin in Nova Scotia.
(Note: Selected financial data are sourced from Briefing.com via the Wall St. Journal. All data are assumed to be accurate.)
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