C&J Energy Services (CJES) PT, Estimates Raised at Jefferies

Jefferies analyst Brad Handler reiterated a Buy rating and bumped his price target on C&J Energy Services (NYSE: CJES) to $35.00 (from $34.00) following Q1 results.

Handler comments, "CJES's 1Q14 results highlight an interesting dynamic in this cycle — that growth of sand, chemicals and other "pass through-type" inputs can lower margin %. Yet CJES's peer leading EBITDA $ per frac horsepower is the defining metric and highlights why we support its capex-led growth and like the stock."

The firm raised Q2 EPS from $0.27 to $0.28, FY 2014 from $1.20 to $1.25 and FY 2015 from $2.70 to $2.80.

For an analyst ratings summary and ratings history on C&J Energy Services click here. For more ratings news on C&J Energy Services click here.

Shares of C&J Energy Services closed at $29.62 yesterday.

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