Canaccord Genuity Buy RPC Inc. (RES); Adjusting Numbers for Split

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March 14, 2012 8:31 AM EDT
Get Alerts RES Hot Sheet
Price: $6.37 +0.16%

Rating Summary:
    6 Buy, 18 Hold, 11 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Buy RPC Inc. (NYSE: RES) price target cut from $20 to $13.

Analyst, Scott Burk, said, "We’re adjusting our 2012/13 EPS estimates and price target to reflect the previously announced three-for-two stock split. Our split-adjusted target is now $13, which is based on ~4x 2013E EBITDA. While we see muted earnings growth through 2013, we believe that an inexpensive valuation and attractive dividend yield (3.1%) are potential offsets to the lack of growth potential."

For an analyst ratings summary and ratings history on RPC Inc. click here. For more ratings news on RPC Inc. click here.

Shares of RPC Inc. closed at $10.55 yesterday.

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