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UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Key Energy Services

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In a report published Monday, Deutsche Bank reiterated its Buy rating on Key Energy Services (NYSE: KEG), but lowered its price target from $13.00 to $9.00.

Deutsche Bank noted, “KEG continues to feel the effects of slower North American activity levels, while trying to take steps to improve operating efficiencies including moving coiled tubing units to higher utilized markets and stepping up cost saving initiatives. Its international business continues to perform well and is helping to partially mitigate the decline in its US businesses. We reiterate our BUY rating while recognizing the bottoming process in North America and typical seasonal headwinds remain.”

Key Energy Services closed on Friday at $5.87.

Latest Ratings for KEG

DateFirmActionFromTo
Dec 2014Global HunterDowngradesNeutralReduce
Dec 2014RBC CapitalUpgradesSector PerformOutperform
Dec 2014Goldman SachsMaintainsNeutral

View More Analyst Ratings for KEG
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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