Basic Energy (BAS) Target Lifted to $25.50 at Imperial Capital

February 21, 2014 10:03 AM EST Send to a Friend
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Price: $6.37 --0%

Rating Summary:
    13 Buy, 9 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 36 | New: 46
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Imperial Capital analyst Scott Levine reiterated an Outperform rating on Basic Energy Services (NYSE: BAS) and lifted his price target from $20 to $25.50 following Q4 results and Q1 guidance, citing incremental confidence in E&P spending uplift.

"BAS is well-positioned to benefit from a recovery in U.S. onshore E&P activity, given its diverse service portfolio and attractive geographic footprint," Levine said. "Although the recent move in BAS stock suggests investors have begun to recognize the potential for a recovery in BAS’ earnings, we see room for further upside, and view risk-reward as favorable at current levels."

For an analyst ratings summary and ratings history on Basic Energy Services click here. For more ratings news on Basic Energy Services click here.

Shares of Basic Energy Services closed at $23.10 yesterday.


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