Shares of RPC (NYSE: RES) rallied more than 10% by 2:30 p.m. EDT on Monday. Fueling the energy company's bounce-back was an analyst upgrade ahead of its third-quarter report.
An analyst at Citi upgraded shares of RPC from a "sell" to "neutral," while increasing the bank's price target from $4.80 to $4.90 per share. Though, after today's rally, that's about 3% above the current stock price. Fueling the more optimistic view is the oilfield service company's upcoming third-quarter earnings report, which it should unveil on Wednesday morning.
Image source: Getty Images.
Source Fool.com