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UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Superior Energy Services

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In a report published Friday, Jefferies & Company reiterated its Hold rating on Superior Energy Services (NYSE: SPN), and slightly raises its price target from $21.00 to $22.00.

Jefferies noted, “SPN's Gulf of Mexico (GoM) and non-North America upside caught our attention this quarter, with P&A resiliency in the GoM, rental tools strength generally and apparent completion tools momentum. U.S. onshore is still a weight, but that weight resets GoM + non-NAM to 1/2 of EBIT in 2013E. We'd prefer greater comfort with growth/margin prospects outside of U.S. land and FCF prospects before getting more constructive.”

Superior Energy Services closed on Thursday at $20.24.

Latest Ratings for SPN

DateFirmActionFromTo
Feb 2017JefferiesDowngradesBuyHold
Jan 2017SunTrust Robinson HumphreyInitiates Coverage OnHold
Jan 2017Credit SuisseUpgradesNeutralOutperform

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