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Analysts at Imperial Capital started coverage on shares of Basic Energy Services (NYSE:BAS) in a research report issued to clients and investors on Tuesday, reports. The firm set an “outperform” rating and a $20.00 price target on the stock. Imperial Capital’s target price indicates a potential upside of 17.44% from the company’s current price.

The analysts wrote, “BAS has an established presence in several attractive basins, which should enable it to benefit from a rebound in oilfield service demand, which we expect to gain momentum in FY14,” the report noted. “The company’s assets are particularly well positioned in oily basins such as the Permian and Eagle Ford, which should enable it capitalize on any increase in capex tied to greater E&P activity in these areas. Although activity in gas-rich fields remains anemic, the company’s established presence in the Ark-La-Tex and Marcellus regions should ensure that BAS will benefit from any resumption in gas development activity if market conditions improve.”

Shares of Basic Energy Services (NYSE:BAS) traded down 1.28% on Tuesday, hitting $17.03. 804,565 shares of the company’s stock traded hands. Basic Energy Services has a one year low of $11.06 and a one year high of $17.99. The stock’s 50-day moving average is $15.27 and its 200-day moving average is $13.85. The company’s market cap is $681.2 million.

Several other analysts have also recently commented on the stock. Analysts at Iberia Capital upgraded shares of Basic Energy Services from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, January 15th. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Basic Energy Services from a “conviction-buy” rating to a “buy” rating in a research note to investors on Monday, December 16th. Finally, analysts at Global Hunter Securities downgraded shares of Basic Energy Services from a “buy” rating to a “neutral” rating in a research note to investors on Monday, November 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.50.

Basic Energy Services, Inc provides a range of well site services to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling.

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