Barclays Maintains an 'Overweight' on Superior Energy Services (SPN); Raising 2012 Estimates and Price Target
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Price: $0.93 --0%
Rating Summary:
11 Buy, 19 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 19 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Superior Energy Services (NYSE: SPN), PT raised from $43 to $47.
Barclays analyst says, "We believe Superior is poised to benefit from the
unfolding recovery in the Gulf of Mexico, a strong North American land market
(particularly for coiled tubing), the exportation of the BJ sand control business
internationally, and the emerging market of subsea well interventions. In addition, we expect solid international growth as the upcycle takes hold. Long-term fundamentals are in place for Superior, and the company has considerable earnings potential as the cycle unfolds."
"We are reducing our 2011 EPS estimate to $1.85 (from $2.20) to reflect a higher interest expense. However, we are increasing our 2012 EPS estimate to $3.15 (from $2.85) reflecting a faster recovery in Hallin Marine and a stronger 2012 Gulf of Mexico market."
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 $40.03 yesterday.
Barclays analyst says, "We believe Superior is poised to benefit from the
unfolding recovery in the Gulf of Mexico, a strong North American land market
(particularly for coiled tubing), the exportation of the BJ sand control business
internationally, and the emerging market of subsea well interventions. In addition, we expect solid international growth as the upcycle takes hold. Long-term fundamentals are in place for Superior, and the company has considerable earnings potential as the cycle unfolds."
"We are reducing our 2011 EPS estimate to $1.85 (from $2.20) to reflect a higher interest expense. However, we are increasing our 2012 EPS estimate to $3.15 (from $2.85) reflecting a faster recovery in Hallin Marine and a stronger 2012 Gulf of Mexico market."
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 $40.03 yesterday.
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