Canaccord Genuity Reiterates a 'Buy' on Key Energy Services (KEG); Solid Q1, but Outlook Catches Our Eye

Canaccord Genuity reiterates a 'Buy' on Key Energy Services (NYSE: KEG), PT increased to $22.

Canaccord analyst says, "Things are starting to come together nicely for KEG as customers continue increasing activity levels in response to strong crude prices. Domestic pricing increased across all product lines, while international turned profitable for the first time in a year. The strong outlook given by KEG caught our eye, and you can start to see the fixed leverage the company gets from having more units working in the field. We are increasing our 2011E EPS by 20 cents to $0.80 and our 2012 estimate by 40 cents to $1.40."

For more ratings news on Key Energy Services click here and for the rating history of Key Energy Services click here.

Shares of Key Energy Services closed at $16.27 yesterday.

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