Market Overview

UPDATE: Morgan Stanley Initiates Coverage on Superior Energy Services on Attractive Potential Upside

Share:
Related SPN
Barclays: Oil Bulls 'Need To Be Cautious'
UPDATE: Credit Suisse Downgrades Superior Energy Services On Meeting The Market Head On
Oilfield services gains won't hold up as U.S. storage fills, Credit Suisse says (Seeking Alpha)

In a report published Friday, Morgan Stanley analyst Ole Slorer initiated coverage on Superior Energy Services (NYSE: SPN) with an Overweight rating and $30.00 price target.

In the report, Morgan Stanley noted, “Initiating coverage at OW. Using our 2015E EBITDA forecast 23% below consensus that does not discount a US Land recovery and a 4.7x EBITDA multiple (5% discount to hist. given structurally lower US Land outlook), we still get ~20% upside to our $30 PT. We see attractive potential upside to a $40 ‘high mid-cycle scenario' if our bearish pressure pumping and flat rig count outlook turns out to be too cautious.”

Superior Energy Services closed on Thursday at $25.09.

Latest Ratings for SPN

DateFirmActionFromTo
Feb 2015Credit SuisseDowngradesOutperformNeutral
Feb 2015JefferiesMaintainsHold
Dec 2014Global HunterUpgradesNeutralAccumulate

View More Analyst Ratings for SPN
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Ole SlorerAnalyst Color Initiation Analyst Ratings

 

Related Articles (SPN)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→