Market Overview

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

Related SPN
Jefferies Just Hiked These Oil Stocks, Firm Prefers Onshore Business
Oppenheimer Upgrades Superior Energy On 'Favorable' Risk/Reward

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

Oct 2015Imperial CapitalMaintainsOutperform
Oct 2015OppenheimerMaintainsOutperform
Sep 2015RBC CapitalDowngradesOutperformSector Perform

View More Analyst Ratings for SPN
View the Latest Analyst Ratings

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


Related Articles (SPN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters