KeyBanc Starts DXP Enterprises (DXPE) at Sector Weight

KeyBanc initiated coverage on DXP Enterprises (NASDAQ: DXPE) with a Sector Weight rating.

Analyst Ryan Cieslak said, "We view DXPE as an intriguing distributor growth story reflecting share gain opportunities and a proactive acquisition strategy. We expect these dynamics to prevail long term as DXPE continues to fill out its pump distribution footprint and benefits from secular tailwinds within U.S. energy markets. However, with 66% of revenue tied to energy markets (40% upstream), we prefer evidence of a recovery in drilling fundamentals/sentiment before becoming more constructive."

For an analyst ratings summary and ratings history on DXP Enterprises click here. For more ratings news on DXP Enterprises click here.

Shares of DXP Enterprises closed at $41.10 yesterday.

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