UPDATE: Global Hunter Securities Initiates Coverage on Flotek Industries

A report from Global Hunter Securities initiates coverage on Flotek Industries FTK with a Buy rating and a $15 price target. The report states, “Overlooked, undervalued, and under-appreciated is how we would describe FTK. Once an oilfield services darling that was tarnished during the downturn, losing most of its investor following, current management has reformed it into a profitable, free cash flow generator with substantial growth opportunities both domestically and in select international markets.” FTK closed yesterday at $8.99.