UPDATE 1-Carbo Ceramics, Cameron Q3 may top view: Pritchard
Oct 14 (Reuters) - Cameron International Corp CAM.N and Carbo Ceramics Inc (CRR.N: Cotización) are expected to post quarterly earnings above market estimates, said Pritchard Capital Partners, which upgraded Carbo Ceramics by a notch to "buy."
Shares of both Carbo Ceramics and Cameron International rose as much as 3 percent to their new 52-week highs in early trade on Wednesday.
Oilfield services company Carbo Ceramics will show increasing volumes and margins and possess a very positive outlook, analyst Brian Uhlmer said.
Carbo Ceramics, which is his top pick heading into earnings, is expected to earn 44 cents a share for the quarter, topping the consensus view of 41 cents.
He has a short-term price target of $60 on Carbo's stock.
The analyst said another favorite name of his is Cameron for both long term and heading in to earnings, adding that his third-quarter estimates for the company might be too conservative, given the strong order rates.
"Based on activity levels we think that our $225 million order rate for the Valves & Measurement segment may be too conservative and an area that could exceed all analysts' expectations," Uhlmer wrote in a note to clients.
Uhlmer expects a quarterly profit of 50 cents a share for the company, below the consensus view of 53 cents.
"Exceeding 55 cents is very likely," Uhlmer said. Continuación...