Global Hunter Securities Reiterates a 'Buy/Top Pick' on Superior Energy Services (SPN); Expect Continued Growth In Multiple Business Lines

Global Hunter Securities reiterates a 'Buy/Top Pick' on Superior Energy Services (NYSE: SPN), PT increased from $44 to $49.

Global analyst says, "SPN put up 1Q EPS in line with expectations, but interest expense hampered guidance. Still, we believe operational expectations remain in line and the company is in position to capture upside from US GOM deepwater recovery, while a strengthening domestic rig count will keep rental drillpipe inventory contracted near full capacity. Coiled tubing opportunities continue, while Hallin Marine should return to previous strong levels seen last year."

"Despite an in-line quarter, the market again irrationally punished the stock, in our opinion, similar to 4Q post-call trading. We note the stock rebounded 6% the next day and continued its climb higher. We envision a similar scenario based on growth from this point (1Q should be the earnings trough) and still solid margin expectations. As such we believe yesterday's pullback is unwarranted and we reiterate SPN as one of our top picks."

For more ratings news on Superior Energy Services click here and for the rating history of Superior Energy Services click here.

Shares of Superior Energy Services closed at $37.80 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'
• Piper Sandler Reiterates Overweight Rating on Patterson-UTI Energy (PTEN)