Roth Capital Maintains Buy On Nuverra Environmental, Sees 112% Upside
In a research note sent to investors today, Roth Capital analyst Gerry Sweeney maintained a Buy rating on Nuverra Environmental (NYSE:NES) with a price target of $20.00, which represents a potential upside of 112% from where the stock is currently trading.
Sweeney note, “NES posted results that were in line with revenue expectations, but outperformed on the operating line due better than expected margins and expense controls. Prior to charges from a goodwill write down, NES generated $9.9 mm in operating income, the best performance in years. We believe, margins should continue to trend upward and the market will look favorably on results. However oil prices will continue to add volatility to the stock.”