Superior Energy, Keane cut at Jefferies as oil services firms 'worth less' [Seeking Alpha]
SUPERIOR ENERGY SERVICES INC (SPN)
Last superior energy services inc earnings: 2/19 04:15 pm
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ir.superiorenergy.com
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Source: Seeking Alpha
Superior Energy, Keane cut at Jefferies as oil services firms 'worth less'Superior Energy Services (SPN-5.5%) and Keane Group (FRAC-1.5%) are sharply lower followingdowngrades from Jefferies, which says both companies are "vulnerable to more earnings erosion."Oil services and equipment companies generally are "worth less than historically," says Jefferies analyst Brad Handler, and investors should look to "sell into strength as estimate cuts enter their fifth year," as challenges to the duration and magnitude of the upcycle are "too apparent."Handler downgrades SPN to Underperform from Hold and slashes its price target to $3 from $4.50, and cuts FRAC to Hold from Buy with a $10 target trimmed from $12.The firm's favorites in the sector are Baker Hughes (BHGE+1%), Helmerich & Payne (HP+1%) and Apergy (APY-1.4%), as each has distinct growth potential, generate cash and have low or manageable debt.See all stocks on the move »Now read:Sell Baker Hughes Before General Electric Does »Subscr
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