UPDATE: Hilliard Lyons Trims Price Target on Nuverra Environmental Solutions, Inc.

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In a report published on Wednesday, Hilliard Lyons analyst Spencer Joyce reiterated a Long-term Buy rating on

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Nuverra Environmental Solutions, Inc

while reducing the price target to $6.00/sh. In the report, Hilliard Lyons analyst Spencer Joyce states, "We are disappointed with both preliminary Q2 financial results and what appear to be managerial missteps. Despite the pending miss to Q2 however, we continue to believe NES has a viable business model/strategy, and we believe the management team in place has the capability to execute the plan and ultimately develop a mature-state business."Nuverra Environmental Solutions traded down 2.63% to $2.96/sh on Wednesday.