UPDATE: Wunderlich Securities Initiates Key Energy Services at Hold on Domestic Pressures

Wunderlich Securities initiated coverage on Key Energy Services KEG with a Hold rating and a price target of $10. Wunderlich Securities commented, "The company provides multiple oilfield services through its operating segments, which include Rig Services, Fluid Management Services, Coiled Tubing Services, and Fishing and Rental Services. The majority of Key's business remains in the United States but its international exposure is growing rapidly with emerging businesses in Mexico, Colombia, and Oman, among others. While we are impressed by the international business growth, we remain cautious on the domestic market given pricing pressures and potential cost increases heading into 2013." Key Energy Services closed at $ on Wednesday.