Imperial Capital Slashes Basic Energy Services' Price Target, Maintains At Outperform

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

Scott Levine of Imperial Capital slashed his price target of

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Basic Energy Services

(NYSE: BAS) on Wednesday to $14.50 from a previous $23 while maintaining an Outperform rating.“We believe Basic Energy Services is positioned to benefit from a recovery in U.S. onshore E&P activity, given its diverse service portfolio and attractive geographic footprint,” Levine wrote in a note. The analyst adds that despite recent volatility in commodity prices, the company's growth prospects and valuation levels are still “attractive” at current prices.Levine's new price target assumes a roughly 90 percent share appreciation. The analyst states that the lowered price target reflects a “more cautious fundamental outlook” for industry activity over the coming years.