Pritchard Capital Maintains Buy on Dawson Geophysical

Pritchard Capital is out with its report today on Dawson Geophysical DWSN, maintainting Buy. In a note to clients, Pritchard Capital writes, "We talked to management late last week and got an interim update. We continue to be buyers here. Business conditions continue to improve in the lower 48. Demand is increasing and so is bidding activity. Order book continues to strengthen. Weather was beneficial in April and May, with small interruptions of activity in May. The company is seeing improving crew productivity. Even though we could not get any more details, we learned that the TGE merger is still in the works. Even though this recovery is taking longer than expected, it seems that DWSN is having a good quarter so far. We continue to be buyers of the stock here. Reiterating our $45 target price." Shares of DWSN closed Friday at $33.73.