Tetra Technologies upgraded to "buy"

01/06/06 - Hibernia Southcoast Capital

NEW YORK, January 6 (newratings.com) – Analyst Martin W Malloy of Hibernia Southcoast Capital upgrades Tetra Technologies Inc (TTI) from "hold" to "buy," while raising his estimates for the company. The target price has been raised from $32 to $43.

In a research note published this morning, the analyst mentions that the WA&D division’s profit contribution is likely to be boosted by increased oil and gas production by the company’s Maritech subsidiary in FY06. Tetra Technologies has announced its earnings guidelines for 2006 at $2.09-$2.35 per diluted share, significantly ahead of the estimates and the consensus. The EPS estimate for FY06 has been raised from $1.75 to $2.25.