UPDATE: Wedbush Downgrades Heckmann Corporation to Underperform on End Market Weakness
Wedbush downgraded Heckmann Corporation (NYSE: HEK) from Neutral to Underperform and lowered the price target from $3.00 to $2.50.
Wedbush noted, "Based on recent channel checks and publicly available data, we believe the earnings outlook is weaker than anticipated. Valuations for the peer group reflect this unfavorable backdrop; and we believe HEK shares are likely to follow suit as earnings and valuation expectations are reduced."
Heckmann Corporation closed at $4.25 on Friday.
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