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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Dennis Roth who wrote (158468)	11/11/2011 7:58:31 AM
From: Dennis Roth	2 Recommendations Read Replies (1) of 206151

C&J Energy Services Inc. (CJES) Raising Target, Frac Fleets May Arrive Sooner Than Expected 10 November 2011 ¦ 12 pages ir.citi.com Better-Than-Expected Quarter — CJES reported a strong quarter that exceeded estimates handily ($0.89 vs. our $0.76 estimate and $0.78 consensus). Although part of the beat may be attributed to slightly conservative guidance, the company was running on all cylinders and exhibited near-flawless execution in the quarter... ...Reiterate Buy — CJES is positioned to deliver strong earnings growth. The Total acquisition has successfully added manufacturing flexibility that may accelerate its delivery schedule. The inherent coiled tubing leverage appears underappreciated. We have raised our price target to $28 from $25 on our earnings revision. In 2013, with all eight fleets contributing, the company still trades at only 3.3x our EBITDA estimate.

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