ORLANDO, Fla., April 4, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., has issued a 4Q 2007 research update for Boots & Coots International Well Control, Inc. (AMEX:WEL), a global emergency response company specializing in the needs of the oil and gas industries.
Paul Rapa, MBA, RedChip Research Analyst, reported:
"WEL reported record revenue for the fourth quarter, moving the Company over the $100 million milestone for the year and steaming ahead of analyst estimates.
"We believe oil prices will continue to increase, thereby continuing to create unique opportunities for Boots & Coots. Additionally, WEL should see continued growth from their contracts in the Middle East and North Africa, and the Company sees promise in its domestic tool rental segment," Rapa continued.
"We reiterate our 'Buy' rating for WEL and believe 2008 will shape up to be a very successful year for the Company. We believe that the Company is being very conservative in their estimated earnings per share and that the Company is extremely undervalued," Rapa concluded.
About RedChip Independent(tm)
RedChip Companies, Inc. is a well-established source of independent research and information on the small-cap market. Dedicated to "Discovering Tomorrow's Blue Chips Today(tm)," its analysts seek out up-and-coming and undiscovered small-cap companies before they show up on Wall Street's radar. To view the full version of this report, to include the investment conclusion and target price, subscribe to RedChip's Research Community online by visiting http://www.redchip.com/visibility/redchipResearchNEW.asp or call 1-800-REDCHIP.
The RedChip Companies Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2761
Disclosure:
The views expressed in this report, (including the actual rating assigned as well as the analytical substance and tone of the report), accurately reflect the personal views of the analyst(s) covering the subject securities. No part of the analyst's compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. The analyst(s) contributing to this report do not hold any share of the subject securities. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable but is not guaranteed as to accuracy and is not purported to be complete. As such, neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures, or other derivatives related to such securities. This publication was furnished on the condition that it will not form a primary basis for any investment decision. Each investor must make their own determination of the appropriateness of an investment in any securities referred to herein based on the legal, tax, and accounting considerations applicable to such investor and their own investment strategy. Any opinions expressed herein are subject to change. The subject security is not a client of RedChip Companies, Inc., or any of its affiliates.