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UPDATE: Williams Financial Group Initiates Superior Energy Service at Buy on Long-Term Outlook

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Williams Financial Group initiated coverage on Superior Energy Service (NYSE: SPN) with a Buy rating and a price target of $30.

Williams Financial Group commented, "With the acquisition of Complete Production Services earlier in the year, SPN derived more than 70% of 2Q revenue from US onshore activity. While the timing was unfortunate, the motive for the acquisition relative to the longā€term company strategy is sound. Furthermore, we do believe management is in place to compete with the largest global service providers across a very broad product and service spectrum."

Superior Energy Services closed at $23.45 on Thursday.

Posted-In: Williams Financial GroupAnalyst Color Initiation Intraday Update Analyst Ratings


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