Jefferies Starts RPC Inc. (RES) at Buy

November 28, 2016 6:42 AM EST
Get Alerts RES Hot Sheet
Price: $22.08 +2.17%

Rating Summary:
    10 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies initiates coverage on RPC Inc. (NYSE: RES) with a Buy rating and a price target of $22.00.

Analyst Brad Handler commented, "RES offers a hard-to-find combination in OFS investing of 1) significant exposure to U.S. onshore completions and specifically to hydraulic fracturing, which we expect to enjoy significant recovery and intensity growth over the next few years, 2) solid management team and 3) clean balance sheet. We see valuation headroom given upside potential and powerful medium term prospects. Initiate at Buy and $22 PT."

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 $18.28 yesterday.

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