Barclays Downgrades Oil Well Services & Equipment Stocks to Equalweight
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Barclays downgrades Basic Energy Services (NYSE: BAS), Hercules Offshore (Nasdaq: HERO), Key Energy (NYSE: KEG), Patterson-UTI (Nasdaq: PTEN), Rowan (NYSE: RDC), Superior Energy (NYSE: SPN) & TETRA Technologies (NYSE: TTI) from Overweight to Equalweight.
Barclays lowers the Price Target (PT) on BAS from $8 to $7, lowers HERO's Price Target from $6 to $2, and drops KEG's PT from $6 to $5.
Barclays also lowers the PT on PTEN from $10 to $9, RDC from $23 to $18, SPN from $26 to $20 and drops TTI's PT from $12 to $6.
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