BofA Securities analyst Saurabh Pant maintains $AESI Holdings (AESI.US)$ with a buy rating, and adjusts the target price from $24 to $22.5.
According to TipRanks data, the analyst has a success rate of 40.0% and a total average return of -2.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $AESI Holdings (AESI.US)$'s main analysts recently are as follows:
A softened global oil demand growth coupled with plentiful supply forecasts a demanding environment for oil prices and Oilfield Services stock selection heading into 2025. The prevalent global oil supply/demand scenario necessitates a prompt stabilization of U.S. Land oil production. Consequently, there has been an average reduction of 6% in price targets across the sector.
The company has revised its anticipated EBITDA for the second half of the year downward, citing a 'disappointing' update that encompasses heightened costs for repairs and optimization at the Kermit mine, as well as subpar performance from new dredges. Looking ahead, there is an expectation for substantial strides in mining cost optimization and the Dune Express commercial scale-up. Despite a recent decline in stock price, the perceived risk/reward balance is still considered advantageous.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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