UPDATE: Dahlman Rose Upgrades RPC to Hold
In a report published Friday, Dahlman Rose & Co. upgraded its rating on RPC (NYSE: RES) from Sell to Hold.
Dahlman Rose noted, “We see a neutral risk-reward between our downside value of $10 (-7%), based on 1.5x replacement value and an upside valuation of $12, based on 5x 2013 EBITDA (+11%)...RES is currently trading at 2.6x P/TBV, a 30% discount to its historical average of 3.8x and 112% above its historical trough P/TBV of 1.25x. The stock is trading at 2.6x P/TBV, 70% of its historical average of 3.8x, a level we view as appropriate as the industry potentially recovers in 2013.”
RPC closed on Thursday at $10.79.
Latest Ratings for RES
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2021 | Morgan Stanley | Maintains | Underweight | |
Nov 2020 | Morgan Stanley | Downgrades | Equal-Weight | Underweight |
Aug 2020 | Citigroup | Maintains | Sell |
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Posted-In: Dahlman Rose & Co.Analyst Color Upgrades Analyst Ratings