UPDATE: Global Hunter Raises PT on Superior Energy Services to $49 (SPN)

Global Hunter is out with its report today on Superior Energy Services SPN, raising its PT from $44 to $49. In a note to clients, Global Hunter writes, "SPN put up 1Q EPS in line with expectations, but interest expense hampered guidance. Still, we believe operational expectations remain in line and the company is in position to capture upside from US GOM deepwater recovery, while a strengthening domestic rig count will keep rental drillpipe inventory contracted near full capacity. Coiled tubing opportunities continue, while Hallin Marine should return to previous strong levels seen last year. We are increasing our price target to $49 from $44 and reiterating SPN as one of our favorite ideas." Global Hunter Maintains Buy on SPN. Shares of SPN closed Thursday at $37.80.