Citi Downgrades Keane Group (FRAC) to Neutral

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August 30, 2017 5:48 AM EDT
Get Alerts FRAC Hot Sheet
Price: $4.55 --0%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 19 | New: 18
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Citi downgraded Keane Group (NYSE: FRAC) from Buy to Neutral with a price target of $14.00 (from $19.00).

Analyst Scott Gruber says the stock is trading above NAV by nearly 30% and believes that pumpers will be unable to push frac rates higher with crude oil trading sub $50. The analyst sees more favorable valuation in peer Patterson-UTI Energy (NASDAQ: PTEN).

For an analyst ratings summary and ratings history on Keane Group click here. For more ratings news on Keane Group click here.

Shares of Keane Group closed at $13.18 yesterday.


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Related Categories

Analyst Comments, Analyst PT Change, Downgrades

Related Entities

Citi, Crude Oil