The Globe and Mail reports in its Wednesday edition that CIBC World Markets analyst Jon Morrison says: "Overall, we remain constructive on the oil field services sector as the majority of data points that we track have been in line to slightly more positive than we were projecting a few months ago. And while a large portion of this has been reflected in stock prices and select oil field services equities may be a little ahead of themselves given where we are in the cycle, we believe we are still in the early days of the cyclical recovery and it's a little early to be taking profits and exiting the stage left at this point." The Globe's David Leeder writes in the Eye On Equities column that
Mr. Morrison says, "Our current top picks, which focus on a combination of defensiveness, strong management, leverage to unconventional development and current valuations are Precision [Drilling], Enerflex and Western [Energy Services]; each of which has slightly different rationale, risk weightings and expected upside potential." He rates Secure Energy Services and Trinidad Drilling "outperformer." He rates Pason Systems and Black Diamond Group "'outperformer' on the basis of relative returns across our coverage universe."
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