Goldman Sachs Upgrades BAS To Neutral

Goldman Sachs has reported that it is upgrading Basic Energy Services BAS from Sell to a Neutral Rating. According to Goldman Sachs, “We upgrade BAS to Neural from Sell and raise our six-month, EBITDA-based price target to $24 from $18 to reflect higher estimates and an M&A consolidation candidate. We are Neutral, as we continue to expect margins to peak in 2011 and the stock has historically traded with margins.”premium. BAS is most exposed to the Permian, has potential for accretive M&A, and is a BAS closed at $24.31 yesterday.