Barclays Maintains an 'Overweight' on Superior Energy Services (SPN); Accelerating the International Expansion

Barclays maintains an 'Overweight' on Superior Energy Services (NYSE: SPN) price target cut from $50 to $42.00.

Barclays analyst says, "Our 4Q11 EPS estimate of $0.66 remains unchanged. We are modestly lowering our 2012 and 2013 EPS estimates to $3.20 and $4.00 (from $3.30 and $4.15), respectively to reflect a slightly lower margin for Subsea and Well Enhancement work in North America. We continue to expect healthy activity levels in North America next year as well as a ramp in the GOM benefitting Drilling Products and Services and a strong recovery in Hallin Marine."

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.

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