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UPDATE: Sterne Agee Upgrades Superior Energy Services to Buy on Solid 1Q Results

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In a report published Tuesday, Sterne Agee analyst Stephen D. Gengaro upgraded the rating on Superior Energy Services (NYSE: SPN) from Neutral to Buy, and raised the price target from $28.00 to $34.00.

In the report, Gengaro noted, “SPN posted solid 1Q results bolstered by good execution and a focus on costs. We are upgrading the shares to Buy based on: 1) our belief that earnings have troughed; 2) expected strong free cash in 2013-15; 3) our confidence management is becoming more focused on deleveraging and returning cash to shareholders; and 4) the current valuation.”

Superior Energy Services closed on Monday at $26.61.

Latest Ratings for SPN

DateFirmActionFromTo
Sep 2014KeyBancInitiates Coverage onHold
Aug 2014Raymond JamesMaintainsStrong Buy
Jul 2014BairdInitiates Coverage onOutperform

View More Analyst Ratings for SPN
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Analyst Ratings

 

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