Dril-Quip price target lowered to $21 from $22 at Barclays

Barclays lowered the firm’s price target on Dril-Quip to $21 from $22 and keeps an Underweight rating on the shares. The firm made adjustments to its offshore energy services coverage coming out of Q1 earnings. TechnipFMC (FTI) remains its top pick in offshore but it sees “stark differentiation among Smid Caps.” Barclays remains constructive on the offshore drillers.