UPDATE: Williams Financial Group Initiates Basic Energy Services at Hold on Competitive Challenges
Williams Financial Group initiated coverage on Basic Energy Services (NYSE: BAS) with a Hold rating and a price target of $15.
Williams Financial Group said, "The company's legacy in the Permian Basin served them well as the migration of interest and equipment from natural gas to oil started. However, challenges to differentiate in an oversupplied market continue to unfold, with near‐term activity and margin uncertainty an overhang."
Basic Energy Services closed at $12.64 on Thursday.
Latest Ratings for BAS
|Feb 2016||Imperial Capital||Maintains||In-line|
|Jan 2016||Deutsche Bank||Maintains||Buy|
|Jan 2016||IBERIA Capital Partners||Maintains||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.