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Basic Energy Services, Inc. Message Board

  • busy26795 busy26795 Feb 21, 2013 3:41 PM Flag

    BAS Basic Energy Services target raised to $17 at MLV & Co

    Basic Energy Services target raised to $17 at MLV & Co

    MLV & Co raises their BAS tgt to $17 from $16. Firm's primary driver of their price tgt increase is the roll of the calendar; they are now using their 2014 ests as the basis for the tgt. They are setting their 2014 EBITDA est at $317 mln, vs their revised 2013 EBITDA est of $263 mln (up from $250 mln in their previous iteration). Business tempo appears to be climbing at a somewhat steeper slope than we had anticipated, though they would hardly term current business as "robust." Their ests now contemplate positive EPS in the Sep quarter, thanks to stronger assumed activity across the board. With the crude outlook indicated by the futures strip, they think an increase in well count is likely, which should pull along demand for Basic's completion-related services.
    Basic Energy Services target raised to $17 at MLV & Co

    MLV & Co raises their BAS tgt to $17 from $16. Firm's primary driver of their price tgt increase is the roll of the calendar; they are now using their 2014 ests as the basis for the tgt. They are setting their 2014 EBITDA est at $317 mln, vs their revised 2013 EBITDA est of $263 mln (up from $250 mln in their previous iteration). Business tempo appears to be climbing at a somewhat steeper slope than we had anticipated, though they would hardly term current business as "robust." Their ests now contemplate positive EPS in the Sep quarter, thanks to stronger assumed activity across the board. With the crude outlook indicated by the futures strip, they think an increase in well count is likely, which should pull along demand for Basic's completion-related services.

    Sentiment: Strong Buy

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    • Funny, I didn't see your upgrades show up in BAS DOW news, but I did see this:

      (H) DJ Basic Energy Services cut to Neutral from Add by CapitalOne
      8:53 AM EST 02-21-13

      I see a long list of recent downgrades and they're still coming!

      Sentiment: Strong Sell

      • 1 Reply to eagledragon1
      • Basic Energy Services (NYSE: BAS) had its target price increased by MLV Capital from $16.00 to $17.00. They currently have a hold rating on the stock.

        Basic Energy Services (NYSE: BAS) had its target price increased by Wunderlich from $9.00 to $13.00. They currently have a hold rating on the stock.

        (BAS)Basic Energy reiterated as a Buy at Deutsche Bank
        Deutsche Bank said Basic ...Get a trial to see story now.
        Story free tomorrow.

        (BAS)Basic Energy upgraded to Overweight from Equal Weight at Stephens
        Stephens upgraded Basic Energy due to stabilizing pricing...Stephens upgraded Basic Energy due to stabilizing pricing and exposure to the Permian Basin. Price target raised to $21 from $11.

        Basic Energy Services (NYSE: BAS) had its price target upped by Suntrust Robinson from $19.00 to $20.00

        Sentiment: Hold

 
BAS
25.79+0.48(+1.90%)Jul 28 4:00 PMEDT

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