Morgan Stanley analyst Connor Lynagh double upgraded RPC, Inc. to Overweight from Underweight, contending that its exposure to smaller E&Ps in the Permian and a more dynamic pricing model should allow the company to take advantage of any upside surprises in market tightness or pricing faster and more significantly than peers. Additionally, the stock has lagged peers by over 15% year-to-date, which Lynagh attributes to concerns about its more "spot work" oriented model. The analyst, who sees a cyclical buying opportunity with frac market sentiment at a trough, raised his price target on RPC shares to $15 from $11.