UPDATE: D.A. Davidson Reiterates Buy Rating, Raises PT on Matrix Service Company

In a report published Wednesday, D.A. Davidson & Co. reiterated its Buy rating on Matrix Service Company

, and raised its price target from $13.00 to $15.00. D.A. Davidson noted, “Matrix's range of services within refinery, petrochemical and petroleum storage facilities are well positioned to benefit from increased demand for infrastructure and maintenance related services as a result of the substantial North American production in shale and oil sands developments. Additionally, refiners are benefiting from access to lower cost, domestically produced crude, and petrochemical producers are investing in capacity to take advantage of low cost natural gas.” Matrix Service Company closed on Tuesday at $12.45.