Nuverra Environmental (NES) Target Raised to $23 at Needham & Company

March 11, 2014 7:34 AM EDT
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Price: $0.26 --0%

Rating Summary:
    3 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company analyst Sean Hannan reiterated a Buy rating on Nuverra Environmental Solutions (NYSE: NES) and raised his price target to $23 following Q4 results.
Hannan said, "Despite weather-related impacts many had feared, 4Q results (inc. TFI business to be divested) were essentially in line with Street estimates and ahead of internal expectations. While abnormally harsh winter conditions continue to weigh on the near term (1Q organic rev to be down 10-20% seq.), we believe the combination of 1) increased activity in the Bakken; 2) potential for sustained capital spending by customers driven by higher natural gas prices; and 3) greater flexibility from an improved balance sheet (cash from TFI + amended credit facility) present an attractive opportunity longer term."
For an analyst ratings summary and ratings history on Nuverra Environmental Solutions click here. For more ratings news on Nuverra Environmental Solutions click here.

Shares of Nuverra Environmental Solutions closed at $17.99 yesterday.

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