Wedbush Upgrades Heckmann Corporation (HEK) to Neutral; Power Fuels Appears Financially Attractive
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Price: $3.74 --0%
Rating Summary:
2 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Heckmann Corporation (NYSE: HEK) from Underperform to Neutral with a price target of $4.00 (from $2.50).
Analyst, David L. Rose, said, "The company’s proposed merger with Power Fuels, a leading fluids management company in the Bakken shale play, could be substantially accretive while shoring up the operating cash flow for the company. Given the merger multiple of 3.4x LTM EBITDA, it appears that HEK Corp may have craftily created financial value...While the company’s core water business is likely experiencing continued pressure from a challenging environment, the proposed merger should dramatically lift EBITDA, while providing HEK access to a more attractive liquid shale play."
For an analyst ratings summary and ratings history on Heckmann Corporation click here. For more ratings news on Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $3.71 yesterday.
Analyst, David L. Rose, said, "The company’s proposed merger with Power Fuels, a leading fluids management company in the Bakken shale play, could be substantially accretive while shoring up the operating cash flow for the company. Given the merger multiple of 3.4x LTM EBITDA, it appears that HEK Corp may have craftily created financial value...While the company’s core water business is likely experiencing continued pressure from a challenging environment, the proposed merger should dramatically lift EBITDA, while providing HEK access to a more attractive liquid shale play."
For an analyst ratings summary and ratings history on Heckmann Corporation click here. For more ratings news on Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $3.71 yesterday.
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