ATLANTA, Oct. 26 /PRNewswire/ -- Westminster Securities Corporation has initiated equity research coverage of Flotek Industries, Inc. (AMEX:FTK) with a "Buy" investment rating, a 12-month Target Price of $52.80 and a risk rating of "High." Based in Houston, Texas, Flotek Industries' specialized chemicals, well drilling tools, gas extraction equipment and consulting services are widely used by oil and gas exploration and production companies. Its chemicals are primarily used for well stimulation, acidizing and cementing. FTK also designs and manufactures bulk material handling facilities, as well as providing bulk material handling services. The company is increasingly focusing on providing drilling and gas extraction products for the growing coal bed methane industry. Approximately 85 percent of FTK's revenues are generated from the company's higher margin proprietary and unique products, which are the result of the company's strong commitment to research and development.
For further information please contact: William D. Lyons, Director of Equity Research
() or Imran Khan, Equity Analyst
() Westminster Securities Corporation, Six Concourse Parkway, Suite 1460, Atlanta, Georgia 30328; Phone: (678) 578-0470; Fax: (770) 390-8684 Westminster Securities Corporation is a full service New York Stock Exchange member firm operating in six principal areas: Investment Banking, Equity Research, Execution Services, Clearing and Operations and Institutional and Retail Account Management. Combining the responsiveness of a boutique firm with the financial expertise of a long established institution, Westminster provides its services to corporations, institutions, private clients, and investment professionals worldwide. Founded in 1971, Westminster is a member of the New York Stock Exchange, National Association of Securities Dealers (CRD number 6105), and the Securities Investor Protection Corporation. Westminster is headquartered at 100 Wall Street, New York, with branch offices in Atlanta, New York, Miami, St. Louis, Toronto, Limassol (Cyprus) and Shanghai (People's Republic of China). DATASOURCE: Westminster Securities Corporation CONTACT: William D. Lyons, Director of Equity Research, , or Imran Khan, Equity Analyst, , both of Westminster Securities Corporation, +1-678-578-0470 Web site: http://www.westminstersecurities.com/
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