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Upgrade Alert for Superior Energy Services (SPN)

By James Quinn

Superior Energy Services (NYSE:SPN) was upgraded from Equalweight to Overweight at Capital One today. The stock closed yesterday at $16.32 on volume of 3.6 million shares, below average daily volume of 3.9 million.

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.

In the past 52 weeks, shares of Superior Energy Services have traded between a low of $8.25 and a high of $26.95 and closed yesterday at $16.32, which is 98% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.3% while the 200-day MA has slid 0.4%.

Potential upside of 11.6% exists for Superior Energy Services, based on a current level of $16.32 and analysts' average consensus price target of $18.22. The stock should find initial support at its 200-day moving average (MA) of $13.77 and further support at its 50-day MA of $13.52.

SmarTrend is monitoring the recent change of momentum in Superior Energy Services. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Superior Energy Services in search of a potential trend change.

Keywords: analyst upgrades/downgrades superior energy services

Ticker(s): SPN