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Fly News Breaks for August 30, 2017
PTEN, FRAC
Aug 30, 2017 | 06:13 EDT
Citi analyst Scott Gruber downgraded Keane Group (FRAC) to Neutral and lowered his price target for the shares to $14 from $19. Patterson-UTI (PTEN) offers a better risk/reward after underperforming Keane by 25%, the analyst contends. He believes the "risk appears to be much greater" for Keane should pumping sentiment deteriorate further. The analyst coupled the downgrade of Keane with an upgrade of Patterson-UTI to Buy.
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