Global Hunter Securities Reiterates a 'Buy' on Superior Energy (SPN); Q3 Beat, Balanced Strategy Intact
Tweet
Share
E-mailGet Alerts SPN Hot Sheet
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
Join SI Premium – FREE
Global Hunter Securities reiterates a 'Buy' on Superior Energy Services (NYSE: SPN), price target cut from $51 to $45.
Global analyst says, "SPN reported adjusted Q3 EPS of 69c, in line with our estimate and above the street. With deal closure likely, we value SPN on a combined-company basis, applying metrics for increased US onshore leverage: 6.0x EV/EBITDA and 13.0x P/E based on pro forma 2012 estimates. We are lowering our price target to $45, but reiterate our rating as valuation remains compelling and SPN has restated its intent for balanced growth."
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 $29.54 yesterday.
Global analyst says, "SPN reported adjusted Q3 EPS of 69c, in line with our estimate and above the street. With deal closure likely, we value SPN on a combined-company basis, applying metrics for increased US onshore leverage: 6.0x EV/EBITDA and 13.0x P/E based on pro forma 2012 estimates. We are lowering our price target to $45, but reiterate our rating as valuation remains compelling and SPN has restated its intent for balanced growth."
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 $29.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'
- Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
