Wunderlich Securities Initiates Coverage on Key Energy Services (KEG) with a Buy
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Wunderlich Securities initiates coverage on Key Energy Services (NYSE: KEG) with a Buy. Price target $10.
Wunderlich analyst says, "We believe Key has some of the most levered oilfield services to any sustained upturn in oil or natural gas activity given it is the largest workover rig company. Besides a diverse domestic presence, the company has recently ramped activity in Latin America. We believe now is an opportune time to build a position given we calculate the company trades at over a 100% discount to some peers and over less than its historical multiple...In addition, the company has other segments such as pressure pumping and wireline services that are also highly levered to an energy recovery...The company's 60+ workover rigs in Argentina and Mexico should provide steady cash flow given the longer-term nature of the work."
To see more analyst ratings on KEG Click Here.
Key Energy Services, Inc. (Key) is an onshore, rig-based well servicing contractor in the United States.
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