Jefferies Upgrades Seventy Seven Energy (SSE) to Buy

Jefferies upgraded Seventy Seven Energy (NYSE: SSE) from Hold to Buy and raised its price target to $28.00.

Analyst Brad Handler said, "We upgrade SSE today to Buy ($28 PT) as we recognize its initial success in cost reduction and the benefits in margin (but not in price!) of its integrated relationship with former owner CHK (at least for now) and of vertical integration in sand trucking (by virtue of its 49% ownership of Maalt)."

For an analyst ratings summary and ratings history on Seventy Seven Energy click here. For more ratings news on Seventy Seven Energy click here.

Shares of Seventy Seven Energy closed at $23.36 yesterday.

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