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Downgrade Alert for Superior Energy Services (SPN)

By Nick Russo

Superior Energy Services (NYSE:SPN) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $16.88 on volume of 4.8 million shares, above average daily volume of 3.9 million.

Superior Energy Services (NYSE:SPN) has potential upside of 7.9% based on a current price of $16.88 and analysts' consensus price target of $18.22. The stock should discover initial support at its 200-day moving average (MA) of $13.77 and subsequent support at its 50-day MA of $13.52.

Superior Energy Services, Inc. provides specialized oilfield services and equipment. The Company conducts operations offshore in the Gulf of Mexico and throughout the Gulf Coast region. Superior leases oilfield equipment, provides oil and gas well plug and abandonment services, and provides other equipment and services.

Superior Energy Services share prices have moved between a 52-week high of $26.95 and a 52-week low of $8.25 and closed yesterday at 105% above that low price at $16.88 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 4.3%.

SmarTrend recommended that subscribers consider buying shares of Superior Energy Services on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.65. Since that recommendation, shares of Superior Energy Services have risen 61.9%. We continue to monitor SPN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades superior energy services

Ticker(s): SPN