Imperial Capital Reiterates In-Line, Raises Price Target On Key Energy Services On Signs Of Operational Improvement

In a report published Friday, Imperial Capital analyst Scott Levine reiterated an In-Line rating on

, and raised the price target from $1.50 to $2.00. In the report, Imperial Capital noted, "We are maintaining our In-Line rating and raising our one-year price target to $2 from $1.50. Our price target is approximately 3% below the recent share price. We believe KEG is well positioned to ultimately benefit from increased U.S. onshore E&P activity (particularly well maintenance activity), given its broad service portfolio and geographic reach. That said, we think KEG faces challenges amid a deteriorating demand environment, and while further downside in the International segment appears limited, a recovery in overseas earnings could take time to materialize." Key Energy Services closed on Thursday at $2.06.