Pritchard Capital Increases Price Target For Complete Production Services, Inc.

Complete Production Services, Inc. CPX reported an incredible June quarter EPS of $0.20 vs. Pritchard's estimate of $0.03. Pressure Pumping and Coiled Tubing activity and utilization has increased, causing a drive upward in revenue and margins. Pricing was minor, according to Pritchard. Price target for CPX is now $28, up from $22. Risks include a potential decline in drilling activity and capacity additions planned by the pressure pumping industry. Complete Production Services, Inc. closed yesterday at $17.64.