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UPDATE: Morgan Stanley Initiates Coverage On Seventy Seven Energy On High Leverage Growth Story, Execution Risk


In a report published Thursday, Morgan Stanley analyst Ole Slorer initiated coverage on Seventy Seven Energy (NYSE: SSE) with an Equal-Weight rating and $29.00 price target.

In the report, Morgan Stanley noted, “Following spin-off from CHK, SSE is trading at a ~15% discount to our $29 SOTP estimate, and we therefore view SSE as a value opportunity within the booming NAm onshore service market. However, we acknowledge risk on execution and leverage. Initiate with an EW rating and a $29 PT.”

Seventy Seven Energy closed on Wednesday at $25.07.

Latest Ratings for SSE

Nov 2015GuggenheimUpgradesNeutralBuy
Aug 2015SunTrust Robinson HumphreyDowngradesBuyNeutral
May 2015JefferiesUpgradesHoldBuy

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