UPDATE: Dahlman Rose Downgrades Basic Energy Services to Hold on Valuation
In a report published Monday, Dahlman Rose downgraded its rating on Basic Energy Services (NYSE: BAS) from Buy to Hold.
Dahlman Rose noted, “We are downgrading Basic Energy Services to Hold from Buy. BAS has appreciated 52% since our North American Upgrade report published November 19, 2012, and the stock is currently trading within 1% of our fair value estimate of $15 per share. We have also adjusted our 2013 EPS estimate to ($0.05) from $0.25, based on our expectation for a slower-paced recovery in North America in 2H13.”
Basic Energy Services closed on Friday at $14.75.
Latest Ratings for BAS
|Feb 2015||Raymond James||Downgrades||Strong Buy||Outperform|
|Feb 2015||BMO Capital||Initiates Coverage on||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.