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NEX

NexTier Oilfield

$4.80

-0.15 (-3.03%)

07:49
12/02/19
12/02
07:49
12/02/19
07:49

NexTier Oilfield reinstated with an Overweight at JPMorgan

JPMorgan analyst Sean Meakim reinstated coverage of NexTier Oilfield Solutions with an Overweight rating and $9 price target following a period of restriction. The analyst believes the company's "scale and high-efficiency operations" make it a "formidable competitor." From any angle, NexTier Oilfield "looks cheap" within the frac space.

NEX NexTier Oilfield
$4.80

-0.15 (-3.03%)

11/13/19
MSCO
11/13/19
INITIATION
Target $12
MSCO
Overweight
NexTier Oilfield resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Connor Lynagh resumed coverage of NexTier Oilfield with an Overweight rating and $12 price target, stating that he thinks its valuation discount to peers is "far too wide" despite the "severe" seasonal headwinds and muted recovery prospects facing the the U.S. completion services industry in 2020. Even in management's "overly pessimist" scenario where 2020 results did not improve from 4Q19 guidance, the outlook implies a greater than 15% free cash flow yield given the stock's current valuation, Lynagh contends.
11/20/19
SBSH
11/20/19
INITIATION
Target $5.8
SBSH
Buy
NexTier Oilfield initiated with a Buy at Citi
Citi analyst Scott Gruber initiated coverage of NexTier Oilfield Solutions (NEX) with a Buy rating and $5.80 price target. The analyst recommends a pair trade of long NexTier, short RPC, Inc. (RES). NexTier appears cheaper on cash flow multiples and net asset value and offers a superior risk/reward, Gruber tells investors in a research note.
11/20/19
SBSH
11/20/19
DOWNGRADE
Target $3.1
SBSH
Sell
Citi downgrades RPC to Sell on underwhelming restructuring plan
Citi analyst Scott Gruber downgraded RPC, Inc. (RES) to Sell from Neutral with a price target of $3.10, down from $4.90. The analyst had believed RPC's restructuring plan would be sufficient to cause a near term rally in the stock. However, the plan "underwhelmed," Gruber tells investors in a research note. As such, the analyst admits that his recent upgrade to Neutral was wrong. He recommends a pair trade of short RPC, long NexTier Oilfield Solutions (NEX).
11/20/19
11/20/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) initiated with an Overweight at Cantor Fitzgerald. 2. Brink's (BCO) initiated with a Buy at Goldman Sachs. 3. KLA-Tencor (KLAC) initiated with a Buy at Nomura Instinet. 4. NexTier Oilfield (NEX) initiated with a Buy at Citi. 5. Carrols Restaurant (TAST) initiated with a Buy at Craig-Hallum. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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