Canaccord Genuity Downgrades Complete Production Services (CPX) to Hold; Past Target, Arb Spread Mostly Closed

Canaccord Genuity downgraded Complete Production Services (NYSE: CPX) from Buy to Hold with a price target of $33.00.

Canaccord analyst, Scott Burk, said, "After the upside from the announced merger with Superior Energy Services (NYSE: SPN)(Not Rated) and the broader market rebound in the last week, CPX is higher than our $33/sh target and up ~100% from its low of $16.97 on October 3."

For more ratings news on Complete Production Services click here and for the rating history of Complete Production Services click here.

Shares of Complete Production Services closed at $34.43 yesterday.

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