RigNet's (RNET) Top Line Could Benefit From Industry Growth - Jeffereis
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Price: $25.55 -0.54%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 20 | New: 29
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 20 | New: 29
Trade RNET Now!
RigNet (NASDAQ: RNET), a leading provider of telecom services for the energy segment, reported 2Q12 results that were ahead of street estimates on revenues and EPS.
Thomas Seitz, an analyst at Jefferies, said "Adj EBITDA was modestly lower on higher headcount and professional fees. We continue to believe RNET's top line could benefit from industry growth and higher penetration, ARPU expansion, and extension into adjacent verticals."
Today Jefferies reiterated a Buy rating on RigNet, Inc. and raised the price target of $22.00 (from $20.00).
For an analyst ratings summary and ratings history on RigNet, Inc. click here. For more ratings news on RigNet, Inc. click here.
Shares of RigNet, Inc. closed at $18.62 yesterday, with a 52 week range of $12.52-$19.49.
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Thomas Seitz, an analyst at Jefferies, said "Adj EBITDA was modestly lower on higher headcount and professional fees. We continue to believe RNET's top line could benefit from industry growth and higher penetration, ARPU expansion, and extension into adjacent verticals."
Today Jefferies reiterated a Buy rating on RigNet, Inc. and raised the price target of $22.00 (from $20.00).
For an analyst ratings summary and ratings history on RigNet, Inc. click here. For more ratings news on RigNet, Inc. click here.
Shares of RigNet, Inc. closed at $18.62 yesterday, with a 52 week range of $12.52-$19.49.
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