Canaccord Genuity Reiterates a 'Buy' on Basic Energy Services (BAS); Monthly Operating Data In-Line

Canaccord Genuity reiterates a 'Buy' on Basic Energy Services (NYSE: BAS) price target of $28.00.

Canaccord analyst, Scott Burk, said, "Seasonal downside potential has been one reason for Basic’s underperformance in the last two months, but today's operating data supports our current assumptions as long as the company completes a trucking acquisition by year-end...Basic expects to be up to 900 trucks by year-end, but has been essentially unchanged at 872 trucks since September. The company is considering several acquisitions that could increase its fleet to 900 trucks by year-end."

For an analyst ratings summary and ratings history on Basic Energy Services click here. For more ratings news on Basic Energy Services click here.

Shares of Basic Energy Services closed at $19.08 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Canaccord Downgrades York Space Systems (YSS) to Hold, 'Supply chain and contract timing uncertainty'
• William Blair Downgrades Enovix Corporation (ENVX) to Market Perform
• Deutsche Bank Downgrades SentinelOne Inc (S) to Hold on Valuation