UPDATE: Global Hunter Downgrades Complete Production Services to Neutral and Maintains the $28 PT
A report from Global Hunter Securities reiterates its $28 price target and downgrades the rating from Accumulate to Neutral on Complete Production Services (NYSE: CPX).
In the report, Global Hunter writes, “We are downgrading CPX to Neutral from Accumulate while retaining our $28 price target following yesterday's announcement that Superior (SPN) will acquire the company in a cash and stock transaction. We do not expect a superior bid (pun intended), nor do we foresee any HSR issues with the deal."
CPX closed yesterday at $28.42.
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