Team Inc eyes best day in over 6 months on contract win from Chevron

Team

05/10/2021 10:51

** Shares of specialty industrial services provider  TISI.K 
jump 14.8% to $3.72 in premarket trade
    ** Stock is set for its best day since March 2021, if gains
hold
    ** TISI wins a multi-year contract from Chevron Corp  CVX.N 
to provide inspection, testing and analytics as part of co's
industry-leading mechanical integrity program  urn:newsml:reuters.com:*:nPn4vr92Ga
    ** Under the contract, TISI's digital solutions business
will integrate CVX's upstream assets into the OneInsight
platform, providing preventative on-site repair and remediation
solutions
    ** Last month, TISI was dropped from S&P SmallCap 600 index
 .SPCY  as part of S&P index quarterly rebalance  urn:newsml:reuters.com:*:nL1N2Q91BM
    ** Three of the 5 brokerages rate the stock "buy" or higher,
and 2 "hold"; their median PT is $10 - Refinitiv data
    ** As of last close, stock had fallen 70.3% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))