C&J Energy (CJES +3%) is initiated with a Buy rating and $26 target price at Global Hunter,...

|By:, SA News Editor

C&J Energy (CJES +3%) is initiated with a Buy rating and $26 target price at Global Hunter, which believes it is "reasonably well positioned" to weather North American onshore market conditions in 2012-13. Term commitments and recent contract renewals from large E&P customers "speak to the legitimacy of CJES' growing franchise," the firm says.