Market Overview

UPDATE: Jefferies Upgrades Superior Energy Services to Buy Following Pricing Concerns Ease

Related SPN
Global Hunter Securities Adjusts Coverage On Several Oil & Energy Stocks
Imperial Capital Lowers Superior Energy Services' Price Target

In a report published Thursday, Jefferies analyst Brad Handler upgraded the rating on Superior Energy Services (NYSE: SPN) from Hold to Buy, and raised the price target from $26.00 to $33.00.

In the report, Handler noted, “We upgrade SPN to Buy from Hold as (1) pricing concerns have eased in U.S. Completion Services and (2) prospects away from U.S. Onshore appear that much stronger, which raises confidence in 2013 EPS. We do lower 2014E to $2.95 from $3.20 on conservatism in Subsea & Technical Solutions margins, but as we raise our PT to $33 from $26 we effectively raise our target multiple to address longer term non-U.S. growth prospects.”

Superior Energy Services closed on Wednesday at $26.73.

Latest Ratings for SPN

DateFirmActionFromTo
Dec 2014Global HunterUpgradesNeutralAccumulate
Dec 2014CitigroupMaintainsNeutral
Dec 2014RBC CapitalUpgradesSector PerformOutperform

View More Analyst Ratings for SPN
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Upgrades Analyst Ratings

 

Related Articles (SPN)

Around the Web, We're Loving...

Get Benzinga's Newsletters