UPDATE: Pritchard Raises PT on Key Energy Services to $25

Pritchard is out with its report today on Key Energy Services (NYSE: KEG), raising its PT from $24 to $25.

In its report, Pritchard writes, "On the heels of a positive earinging surprise for June, we are raising our target for KEG shares to $25 from $24, including the estimated impact of the acquisition of Edge. Our 2012 EBITDA estimate including Edge stands at $700 million. Our same 6x multiple yields $25 target."

Pritchard maintains Buy on KEG.

At the time of posting, shares of KEG were trading at $20.14, up 3.34% from Friday's close.