UPDATE: BMO Capital Markets Terminates Coverage on Basic Energy Services Following Research Analyst Resource Reallocation

In a report published Monday, BMO Capital Markets analyst Michael Mazar terminated coverage on Basic Energy Services BAS. In the report, BMO Capital Markets noted, “We are discontinuing coverage of Basic Energy Services due to reallocation of research analyst resources. Shares of Basic Energy Services have been rated Market Perform since July 25, 2011. Investors should no longer rely on BMO Capital Markets Research for an investment recommendation on Basic Energy Services.” Basic Energy Services closed on Friday at $13.89.