RPC Upgraded to BUY

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Scott Burk and David Evanson

Forbes.com, Fall, 2011

Following third quarter earnings from RPC, Inc (RES), Canaccord Genuity analyst Scott Burk upgraded his rating on the company to BUY from HOLD. Mr. Burk said:

“Under performance [of the stock] makes it attractive. RES hasn’t participated in the rebound of the last month, while its peers (excluding Complete Production Services (CPX)) are up ~30%. Year to date, the stock is up 4.5%, making it the cheapest in the sector. An acquisition still possible. Notwithstanding, there is a lack of near-term catalysts. Other than potentially being acquired, we see few near-term upside catalysts for the stock.”