UPDATE: Williams Financial Group Initiates Superior Energy Service at Buy on Long-Term Outlook
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 long‐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.
Latest Ratings for SPN
|Jan 2017||SunTrust Robinson Humphrey||Initiates Coverage On||Hold|
|Jan 2017||Credit Suisse||Upgrades||Neutral||Outperform|
|Dec 2016||Gabelli & Co.||Initiates Coverage On||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.