UPDATE: Barrington Research Initiates Dawson Geophysical at Outperform

Barrington Research initiated its coverage on Dawson Geophysical

with an Outperform rating and a price target of $32 a share. Barrington Research commented, "Commodity prices for oil and liquids, even while fluctuating in 2012, have continued to drive strong exploration and production capital spending in numerous unconventional basins in the Continental United States. Dawson's seismic activity is highly correlated with this spending and subsequent planning. … Demand for high-resolution images is filling Dawson's order books. Their technological offerings and capacity are well positioned to meet the growing needs of unconventional basin exploration and production." Dawson Geophysical closed at $25.23 on Friday.