RPC, Inc. Is Hold Worthy
Posted by Turn Key Oil on November 9, 2011 · Leave a Comment
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Its always good to know when a stock is ready for purchase. Timing is everything when you are looking to buy in on a stock holding. Well, RPC, Inc. might be at a good point to buy in. Canaccord Genuity explains why now is a good time to buy in.
Following third quarter earnings from RPC, Inc (RES), Canaccord Genuity analyst Scott Burk upgraded his rating on the company to BUY from HOLD. Mr. Burk said:
“Under performance [of the stock] makes it attractive. RES hasn’t participated in the rebound of the last month, while its peers (excluding Complete Production Services (CPX)) are up ~30%. Year to date, the stock is up 4.5%, making it the cheapest in the sector. An acquisition still possible. Notwithstanding, there is a lack of near-term catalysts. Other than potentially being acquired, we see few near-term upside catalysts for the stock.”
Additional due diligence would be needed here, but because there is a recommendation to buy now, it worth the extra research. With acquisition potential, this could also lead to a great investment as well. Definitely consider this stock!
Quotes taken from report by Canaccord Genuity, Read the entire article here.
This is not an offer to buy or sell securities. Oil investment carries with it very high risks. The information contained within this site has not been nor will it be verified by Turn Key Oil and is subject to change at any time. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions. Please read our full disclaimer before making any decisions.
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