UPDATE: Hilliard Lyons Lowers PT on Nuverra Environmental Solutions on Financial Results

In a report published on Wednesday, Hilliard Lyons analyst Spencer Joyce reiterated a Long-term Buy rating on Nuverra Environmental Solutions (NYSE: NES) and lowered the price target from $7.00 to $6.00.

In the report, Hilliard Lyons stated, "We are disappointed with both preliminary Q2 financial results and what appear to be managerial missteps. Despite the pending miss to Q2 however, we continue to believe NES has a viable business model/strategy, and we believe the management team in place has the capability to execute the plan and ultimately develop a mature-state business."

Nuverra Environmental Solutions closed Tuesday at $3.04.