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Basic Energy Services (BAS +3.4%) is initiated at Market Perform rating with an $18 target price...

Basic Energy Services (BAS +3.4%) is initiated at Market Perform rating with an $18 target price at Howard Weil, which says that while Q1 results prove BAS is not entirely insulated from "various degrees of franchise contortion in addressing established and emerging oil and liquids plays," it finds BAS "with refreshingly less to do in this regard save for sticking to its roots."
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