Basic Energy Services (BAS +10.2%) is upgraded to Hold from Sell with a $4 price target at Wunderlich, which says the company continues to forge ahead in a difficult oilfield services environment, and insider buying should provide support to the shares at current levels.
The firm foresees an end to the 50% drop in the BAS stock that followed Q2 results and concerns about Q3 guidance.
BAS still has more than $200M in liquidity, already made a good deal with its banks as far as its credit facility, and should still generate cash flow even in a tough market, Wunderlich adds.
News 
Market Data 
Discover 
