Seeking Alpha

Key Energy +2.8% after upgrade

  • Key Energy Services (KEG) +2.8% premarket after Global Hunter upgrades shares to Buy from Neutral and raises its target price to $8.50 from $7.25.
  • The firm says it feels much more confident about the progression of margins at both the field and corporate level, and KEG's aggressive leaning out of the operation should lead to improved results in a flat operating environment and establish a solid base for incremental margins in excess of its peers.
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