UPDATE: Imperial Initiates Coverage on Superior Energy Services

In a note released earlier today, Imperial Capital analyst, Scott Levine initiated coverage on Superior Energy Services

with an In-Line rating and a $40 price target. Levine views Superior Energy as having a broad geographic reach and exposure to improving fundamentals but believes that these factors have already been priced into the stock. From the company's perspective, Levine noted that Superior is looking to generate a revenue CAGR of 15-20 percent over the next few years in its international operations with an emphasis in Latin America, Asia, and the Middle East. Levine concluded by noting that, after a challenging fiscal 2013, he does not expect "broad-based improvement" in pricing until fiscal 2015, at the earliest.