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Basic Energy Services, Inc. Message Board

  • busy26795 busy26795 Dec 14, 2012 8:11 AM Flag

    BAS target lowered to $9 from $11 at Wunderlich

    14-Dec-12 05:57 ET•Basic Energy Services (BAS ) target lowered to $9 from $11 at Wunderlich. Firm notes co reported its Nov activity levels that indicated the continued deterioration of activity and pricing in the US for certain segments within the oil field services industry. In response to this deterioration, co reduced its 4Q12 outlook significantly and also cast an even darker shadow on 1Q13. Over the past few weeks, BAS and other oil field service stocks have been on a nice run higher despite all of our channel checks describing continued weakness in the fundamentals and operations of the domestic well servicing, completion and fluid handling businesses, which happen to make up the great majority of the services provided by co.

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