Canaccord Genuity Reiterates a 'Buy' on RPC Inc. (RES); Positive After Investor Meetings
RES Hot Sheet
Rating Summary:1 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Canaccord Genuity reiterates a 'Buy' on RPC Inc. (NYSE: RES) price target of $24.00.
Canaccord analyst, Scott Burk, said, "We hosted investor meetings with management of RPC in Boston. We remain positive on the stock due to its valuation, strong pressure pumping product line, growing CT business, and what we see as an embarrassment of riches in terms of free cash flow for 2012...RES trades below historic average lows, despite what look to be sustainable margins and earnings for the next year or more, depending on oil prices. We see the shares as very attractive at current prices."
For an analyst ratings summary and ratings history on RPC Inc. click here. For more ratings news on RPC Inc. click here.
Shares of RPC Inc. closed at $17.40 yesterday, with a 52 week range of $14.21-$27.31.
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Canaccord analyst, Scott Burk, said, "We hosted investor meetings with management of RPC in Boston. We remain positive on the stock due to its valuation, strong pressure pumping product line, growing CT business, and what we see as an embarrassment of riches in terms of free cash flow for 2012...RES trades below historic average lows, despite what look to be sustainable margins and earnings for the next year or more, depending on oil prices. We see the shares as very attractive at current prices."
For an analyst ratings summary and ratings history on RPC Inc. click here. For more ratings news on RPC Inc. click here.
Shares of RPC Inc. closed at $17.40 yesterday, with a 52 week range of $14.21-$27.31.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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