Barclays Maintains an 'Equalweight' on Key Energy Services (KEG); International Ramp Unfolding
Get Alerts KEG Hot Sheet
Price: $0.27 --0%
Rating Summary:
9 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Rating Summary:
9 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Barclays maintains an 'Equalweight' on Key Energy Services (NYSE: KEG) price target dropped $2 to $18.00.
Barclays analyst says, "We believe Key remains poised for significant international expansion-the company continues to win business in Mexico, Key's rigs in Bahrain and Russia are operating at full utilization, and we expect the company will add additional rigs in Colombia next year...We believe the sell-off in KEG shares over the last few months more than discounts a rig count decline and Key's customer mix toward larger, well capitalized companies lends some protection."
"We are raising our 4Q11 EPS estimate to $0.31 (from $0.28). We are increasing our 2012 and 2013 EPS estimates to $1.95 and $2.30 (from $1.85 and $2.20) reflecting synergies from the Edge Oilfield Service acquisition and additional rigs added to international markets, particularly in Mexico."
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 $13.39 yesterday.
Barclays analyst says, "We believe Key remains poised for significant international expansion-the company continues to win business in Mexico, Key's rigs in Bahrain and Russia are operating at full utilization, and we expect the company will add additional rigs in Colombia next year...We believe the sell-off in KEG shares over the last few months more than discounts a rig count decline and Key's customer mix toward larger, well capitalized companies lends some protection."
"We are raising our 4Q11 EPS estimate to $0.31 (from $0.28). We are increasing our 2012 and 2013 EPS estimates to $1.95 and $2.30 (from $1.85 and $2.20) reflecting synergies from the Edge Oilfield Service acquisition and additional rigs added to international markets, particularly in Mexico."
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 $13.39 yesterday.
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