Oil States price target lowered to $8 from $11 at Susquehanna

Susquehanna lowered the firm's price target on Oil States to $8 from $11 and keeps a Neutral rating on the shares. The firm updated its model ahead of the upcoming earnings season as the near-round trip in commodity prices has altered the outlook for the industry once again. Susquehanna said while the recent flare-up between the US and Iran is a reminder that the Middle East situation remains uncertain, they believe the medium-term backdrop is favorable for increased oilfield services spending over the next few years.