Nuverra Environmental (NES) PT, Estimates Cut at Needham & Company

Needham & Company analyst Sean Hannan lowered estimates and his price target on Nuverra Environmental Solutions (NYSE: NES) to $4.50 (from $5.50) but maintained a Buy rating.

Hannan commented, "Unsurprisingly, NES will face a particularly challenging 2015 as domestic oilfield drilling/completion activity has dropped substantially over the past 6 months. Further, we believe rental equipment in the Bakken could see progressive price pressure although produced water services should provide NES some buffer and increase within mix (good for recurring revs). Overall, we still see positives in the long-term story and believe the national platform, strong relationships (incl. new and expanding customers), new cost efforts, and B/S improvements should all help NES to weather the choppy waters."

FY 2015 EPS goes from ($0.34) to ($0.44).

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 $2.94 yesterday.

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