Core Laboratories (CLB) Stock: Why It Fell Today

By Amit Chowdhry ● Sep 26, 2022
  • The stock price of Core Laboratories (CLB) fell by over 1% pre-market today. This is why.

The stock price of Core Laboratories (CLB) fell by over 1% pre-market today. 

Why: Bearish research report

Price target: $20

Rating: Downgraded from Equal-Weight to Underweight

Analyst: Morgan Stanley analyst Connor Lynagh

Lynagh adjusted the rating while citing less upside EBITDA and FCF revisions potential for CLB relative to its peer group. And Lynagh sees more attractive free cash flow yields elsewhere in his coverage and they see higher leverage for CLB compared to its peer group on the 2022 base case and in the bear case earnings scenarios.