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Jefferies Maintains a 'Buy' on Key Energy Services (KEG); Another Positive Quarter with Margin Momentum Going Forward

August 1, 2011 8:37 AM EDT
Get Alerts KEG Hot Sheet
Price: $0.27 --0%

Rating Summary:
    9 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 11
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Jefferies maintains a 'Buy' on Key Energy Services (NYSE: KEG) price target increased from $20 to $23.

Jefferies analyst says, "With recent investments in high end completion equipment finally beginning to positively impact margins, we believe that KEG shares have further upside as the Company gains more exposure to higher return businesses. We also believe that any pick up in pricing or activity in legacy workover activity provides added upside to 2012 EPS estimates...We are increasing our 2011 EPS estimates to $1.02 from $0.81 and our 2012 estimate to $1.97 from $1.52 to account for the Edge acquisition, stronger CT pricing, and higher operating margin assumption expectations."

For more ratings news on Key Energy Services click here and for the rating history of Key Energy Services click here.

Shares of Key Energy Services closed at $19.49 yesterday.


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