Seeking Alpha

Analysts raise target prices for Basic Energy even after 52-week highs

  • Basic Energy Services (BAS -0.8%) enjoys price target raises from at least three firms after shares post new 52-week highs following a strong Q4 earnings beat.
  • Imperial Capital lifts its target to $25.50 from $25, seeing BAS as well-positioned to benefit from a recovery in U.S. onshore E&P activity, given its diverse service portfolio and attractive geographic footprint.
  • Howard Weil raises its target to $27 from $19 on the company's overall optimistic outlook, highlighted by expectations for the completion and remedial services segment and well above trend spending within its home field Permian Basin market (Briefing.com).
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