Canaccord Genuity Reiterates a 'Buy' on Key Energy Services (KEG); Beat Boosts 2012 Outlook
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Price: $0.27 --0%
Rating Summary:
9 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Key Energy Services (NYSE: KEG), raises price target to $25.
Canaccord analyst, says, Scott Burk, says, "Key's Q2 EPS of $0.23 beat consensus and guidance, driven by better operating margins. Our 2012 EPS forecast increases to the current high on the Street, while our target increases to $25/sh. We believe Key has more room to run and we reiterate our rating...High on the Street. We are bumping up our margin assumptions through year-end and into 2012. The margin leverage that we expected to see in future years, driven by higher workover activity, is happening earlier than expected based on increased well completion Activity. Upside from workover activity on horizontal wells is yet to come."
For more ratings news on Key Energy Services click here and for the rating history of Key Energy Services click here.
Shares of Key Energy Services closed at $19.49 yesterday.
Canaccord analyst, says, Scott Burk, says, "Key's Q2 EPS of $0.23 beat consensus and guidance, driven by better operating margins. Our 2012 EPS forecast increases to the current high on the Street, while our target increases to $25/sh. We believe Key has more room to run and we reiterate our rating...High on the Street. We are bumping up our margin assumptions through year-end and into 2012. The margin leverage that we expected to see in future years, driven by higher workover activity, is happening earlier than expected based on increased well completion Activity. Upside from workover activity on horizontal wells is yet to come."
For more ratings news on Key Energy Services click here and for the rating history of Key Energy Services click here.
Shares of Key Energy Services closed at $19.49 yesterday.
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