Goodrich (GR) (KEG) (NBR) (NLSN) (NOV) (NR) Downgraded

Goodrich Co. (NYSE: GR), Key Energy (NYSE: KEG), Nabors Industries (NYSE: NBR), Nielsen Holding (NASDAQ: NLSN), National-Oilwell Varco, Inc. (NYSE: NOV) and Newpark Resources, Inc. (NYSE: NR) were downgraded by analysts.

Goodrich Co. (GR) was downgraded by Wedbush to a “Neutral” rating. They have a price target of $127.00 on the company.

Key Energy (KEG) was downgraded by Global Hunter Securities from a “Buy” rating to an “Accumulate” rating. They have a price target of $14.00 on the company, down from $25.00.

Nabors Industries (NBR) was downgraded by Global Hunter Securities from a “Buy” rating to an “Accumulate” rating. They have a price target of $22.00 on the company, down from $36.00.

Nielsen Holding (NLSN) was downgraded by Needham & Company from a “Buy” rating to a “Hold” rating.

National-Oilwell Varco, Inc. (NOV) was downgraded by Global Hunter Securities from a “Buy” rating to an “Accumulate” rating. They have a price target of $70.00 on the company, down from $97.00.

Newpark Resources, Inc. (NR) was downgraded by Global Hunter Securities from a “Buy” rating to an “Accumulate” rating. They have a price target of $10.00 on the company, down from $11.00.

AK Steel (AKS), First Solar (FSLR), Gulfmark Offshore (GLF) Get Ratings Upgrade

Shares of AK Steel (NYSE:AKS), First Solar (NASDAQ:FSLR) and Gulfmark Offshore (NYSE:GLF) were all upgraded to "Buy" or "Neutral" on April 27 by various brokerages.

AK Steel (AKS) was upgraded by Dahlman Rose from "Hold" to "Buy." They have a price target of $22 on AK. The steel firm is seeing higher volumes and is successfully managing costs.

First Solar (FSLR) was upgraded by Kaufman from "Hold" to "Buy." Kaufman Bros. has a price target of $165 on the company. The share price has plunged 25 percent since January highs and the company is considered the likely candidate to emerge as a clear leader in the solar industry.

Global Hunter Securities upgraded Gulfmark Offshore (NYSE:GLF) from "Reduce" to "Neutral."

CARBO Ceramics (NYSE:CRR) Short-Term Upside Looks Weak

CARBO Ceramics Inc. (NYSE:CRR) was downgraded by Global Hunter on weak short-term upside, although they look sound in the long term.

Global said, "With increasing service intensity being met with an onslaught of pressure pumping equipment additions, likely increasing the completed well count through 2012, we like the prospects of full absorption of CRR's expanding ceramic and resin coating proppant capacity. Ending the quarter with $2/share in cash and zero debt, along with the prospects of operating cash flows exceeding capex requirements, we expect it to fund growth organically and increase its quarterly dividend 10% post-Q2. Thus the fundamental outlook is sound, but with our 2012 estimate, which is the basis for our $125 price target, which is unchanged. We are lowering our rating from Buy to Accumulate on less near-term upside."

Global Hunter downgraded CARBO Ceramics (CRR) from "Buy" to "Accumulate," while maintaining their price target on the company of $125. CRR closed Friday at $113.61, gaining $3.59, or 3.26 percent.

Pioneer Natural Resources (NYSE:PXD) Capitalized for Drilling Acceleration

Contrary to some of their peers, Pioneer Natural Resources (NYSE:PXD) has the capital to accelerate drilling at its Eagle Ford Shale and Spraberry Trend projects.

Global Hunter says, "Pioneer is accelerating its drilling activity in the prolific and liquid-rich Spraberry Trend and Eagle Ford Shale plays, with upside to current market expectations. The company's recent sale of Tunisian assets provides substantial capital to further accelerate development."

Global Hunter Securities launched coverage on Pioneer Natural Resources (NYSE:PXD) with a "Buy." Pioneer closed Friday at $91.15, up $1.77, or 1.98 percent. Global has a price target of $120 on Pioneer.

Helmerich & Payne (NYSE:HP) EPS Raised Far Above Consensus

Helmerich & Payne (NYSE:HP) and other land drillers are being viewed as negative by a number of investors, but Global Hunter says they're wrong, and have boosted their EPS estimates for 2011/2012 far above consensus.

Global says, "Negative investor sentiment towards the land drillers has proven to be incorrect, yet again, with the group outperforming the OSX by 500 bps and the overall market by 455 bps yesterday. We think this trend continues, similar to the run in Q4 2010, believing the consensus sell-side estimate to be short 20-30% in most cases for the group. Momentum in the high service intensive plays is unlikely to cease in 2011 or 2012 and the major public drillers should continue to take share as legacy equipment is displaced. No driller is in better position to capitalize on this than HP given its fiscally sound operator base (highest in the group at ~85% of active rig count), under-levered balance sheet and strong cash flows. Ramping up production to three rigs per month suggests it likely delivers more than 50 rigs through 2012. Annualizing last quarter's results and the 2c per share each newbuild adds suggests greater than $5 in earnings power. Despite yesterday's 9.5% move we think the stock has another 20%+ to go."

"We are increasing our fiscal 2011 and 2012 EPS estimates to $4.09 and $5.15 from $3.45 and $4.05, respectively (note consensus as of yesterday was $3.33 and $3.55)."

Global reiterates an "Accumulate" on Helmerich & Payne (HP), which closed Friday at $56.37, down $0.37, or 0.65 percent. Global raised their price target on Helmerich from $62 to $70.

SandRidge Energy (NYSE:SD) Launching Aggressive Drilling Campaign

SandRidge Energy (NYSE:SD) has initiated an aggressive drilling campaign to generate growth in oil production and reserves, but the shares will be under pressure on the need for SandRidge to raise more capital.

Global Hunter says, "SandRidge has undergone a radical transformation into an oil-centric company and is launching an aggressive drilling campaign to fuel growth in oil production and reserves. However, the impact of recent financings, and the need for external capital from divestments or additional financing temper our optimism for the shares...Our estimated 2011 cash flow per share of $1.16 per share is also ahead of the recent $1.00 per share
consensus estimate."

Global Hunter Securities initiateds coverage on SandRidge Energy (SD) with a "Reduce." Sandridge closed Friday at $7.27, up $0.11, or 1.54 percent. Global has a price targeton Sandridge of $6.50.

Approach Resources' (NASDAQ:AREX) Wolffork, Wolfcamp Shale Plays Needs More Visbility

The Wolffork and Wolfcamp Shale plays being worked by Approach Resources (NASDAQ:AREX) need more visibility before it can be known the level of risk or potential connected to the projects.

Global says, "AREX is testing two promising new play concepts - vertical, commingled Wolffork and horizontal Wolfcamp Shale - in the southern Midland Basin. If successful, there is substantial upside in the company's 98,000 acre position. However, given the early nature of the plays and the current valuation, we rate the shares of Approach Neutral.

"We recommend a wait and see approach as the company and other operators cut their teeth on the Wolfcamp shale play. With the recent pick up in activity, we expect to begin seeing some industry data to either de-risk, or disprove, the potential of the play. In all likelihood, as is often the case with early stage development of unconventional plays, initial results may be rather mixed. It often takes a few iterations before drilling and completion techniques can be refined in a play."

Approach Resources (NASDAQ:AREX) closed Friday at $26.26, level with their prior close. Global Hunter has a price target of $26 on them.

Concho Resources (NYSE:CXO) Should Grow at 24% Rate Annually

According to Global Hunter, which just initiated coverage on Concho Resources, they should be able to grow organically at a 24 percent rate annually for the next several years.

Global says, "Concho is launching an aggressive drilling
campaign on its recently acquired Permian assets which should fuel exceptional growth in production and reserves...The company is well followed and its stock was one of the top performers in 2010. However, our model indicates the company is positioned to grow production organically at a compound annual growth rate of 24% per year for the next several years. In 2011, we expect the company's
production to materially exceed guidance."

Global Hunter Securities started with a "Buy" rating on Concho Resources (CXO), which closed Friday at $91.25, gaining $3.60, or 4.11 percent. Global has a price target of $130 on Concho.

ShengdaTech (NASDAQ:SDTH) Costs Rise in Fourth Quarter

ShengdaTech (NASDAQ:SDTH) had its EPS estimate lowered for full year 2010, along with their price target, by Global Hunter, citing higher operating costs and interest expenses.

Global says, "We maintained our FY10 revenue estimate at $133MM, but lowered EPS from $0.52 to $0.49 due to higher operating expenses and higher interest expense in Q4 due to the CB offering. We lowered our FY11 revenue projection from $157MM to $150MM due to the delay of capacity expansion at Zibo, and lowered our EPS estimate from $0.62 to $0.59 on lower revenue and higher interest expense. We expect an output of approximately 310k MT in FY11 with an ASP of $485. We established FY12 estimates, projecting revenue of $170MM (14.5% YoY, an estimated 350k MT output with an ASP of $485) and EPS of $0.70. We expect ASPs to remain relatively stable and gross margin at 39%-40% in the FY11-FY12 period."

Global Hunter Securities reiterates a "Buy" rating on ShengdaTech (SDTH), which closed Tuesday at $4.59, losing $0.13, or 2.75 percent. Global cut its price target on ShengdaTech from $8.50 to $6.00.

Pride International (NYSE:PDE) Lacks Positive Catalyst in 2011

Pride International (NYSE:PDE) have little in the way of postive catalysts in 2011, and older midwater floaters and jackups could produce negative catalysts going forward, according to Global Hunter.

Global said, "Pride stock currently trades near our $31 price target and with the exception of being rumored as a takeover target, we anticipate limited positive catalysts. The contracts provided by the new ultra-deepwater rigs provide a solid backlog, but near-term challenges remain regarding startup timing for the rigs. Furthermore, the older jackups and midwater floaters could produce negative catalysts as well with the potential for reduced utilization or dayrates. As such, we reiterate our rating."

Global Hunter Securities reiterates a "Neutral" on Pride International, which was trading at $32.43, down $0.04, or 0.12 percent, as of 1:53 PM EST. Global has a price target of $31 on them.

Robbins & Myers (NYSE:RBN) EPS Estimates, PT Raised by Global Hunter

Robbins & Myers (NYSE:RBN) raised their guidance after a strong first quarter, and based on rig count and power sections, Global Hunter sees them continuing to outperform in 2011.

Global said, "Following a great Q1, increased guidance, and our expectation both the horizontal (power sections) and oil-directed rig count (downhole pumps) will remain hot well into 2012, we are increasing our estimates and price target for RBN. Our fiscal 2011 EPS estimate now stand at $2.09, up from our prior street-high $1.80, and is above the $1.85 to $2.05 guidance. We are introducing our 2012 EPS estimate of $2.59. Believing RBN's products will remain in high demand and that it will use its liquidity to grow its existing businesses, principally FMG and PSG, we believe further upside exists to the stock."

Global Hunter Securities maintains a "Buy" on Robbins & Myers, which closed Monday at $41.40, gaining $0.22, or 0.53 percent. Global raised their price target on them from $42. to $50.

Ardea Biosciences (NASDAQ:RDEA) Soars on RDEA594 Data

Shares of Ardea Biosciences (NASDAQ:RDEA) skyrocketed on Friday on news their Phase IIb combination study of RDEA594 with allopurinol revealed positive results.

Global Hunter noted, "RDEA announced statistically significant RDEA594 data from the Phase IIb combination study with allopurinol in patients refractory to allopurinol therapy. All three dose groups of RDEA594 produced significant reductions in serum uric acid (sUA) levels compared to allopurinol alone (p<0.0001) and increased the proportion of patients with sUA<6 mg/dL (p<0.0001). Eighty-nine percent of patients responded to the combination of RDEA594 600 mg plus allopurinol. The drug was well tolerated with no serious adverse events (SAEs). We continue to believe that RDEA594 holds a competitive edge over other gout therapies with its once-daily oral dosing, its potential utility as add-on use and its strong efficacy and relatively benign safety profile."

Global Hunter Securities maintains a "Buy" rating on Ardea Biosciences, which closed Friday at $28.66, gaining $2.57, or 9.85 percent. Global boosted their price target from $27 to $30 on the company.

GeoResources (NASDAQ:GEOI) First Bakken Shale Well Successful

With their first Bakken Shale well drill successful, and drilling to start in Eagle Ford shale, Global Hunter sees GeoResources (NASDAQ:GEOI) oil production exceeding expectations in 2011.

Global said, "GEOI provided an update on its drilling activities and CAPEX plans for 2011. With its initial operated Bakken Shale well having been successful with an IP rate of 685 Boepd, the company is committed to keeping an operated drilling rig running full time in 2011. Currently, the company has 30,000 net operated acres and 14,000 net non-operated acres providing approximately 55 future drilling locations. The company will also begin a continuous drilling program on its newly acquired Eagle Ford shale acreage in Fayette County, TX in February, with plans to drill 12 wells in 2011. This commitment significantly raises our forecasted oil production for 2011, resulting in YOY production growth of 16% and increasing our 2011 estimated EPS and CFPS by 10%."

Global Hunter Securities maintains a "Buy" rating on GeoResources, which closed Thursday at $25.14, up $0.38, or 1.53 percent. Global boosted their price target on them from $22 to $30.

BioSpecifics Technologies' (NASDAQ:BSTC) Xiaflex Outlook Favorable

Commenting on the long-term outlook of Xiaflex, Global Hunter says they see shares of BioSpecifics Technologies (NASDAQ:BSTC) appreciating during the launch period.

Global Hunter said, "Our long-term outlook for Xiaflex in Dupuytren’s contracture remains favorable as we view the drug as an attractive alternative to surgery. In the near-term, we anticipate initiation of a Phase II Xiaflex study in canine lipomas in Q1:11. In our opinion, there remains significant upside potential to our fair value estimate and we anticipate shares appreciating during the Xiaflex launch. We recommend BSTC shares based on our physician diligence, the company’s long-term growth prospects, lack of competition, a de-risked clinical program, a solid balance sheet, upcoming milestones and favorable valuation."

Global Hunter Securities maintains a "Buy" rating on BioSpecifics Technologies, which closed Tuesday at $25.42, up $0.09, or 0.36 percent. They raised their price target on BioSpecifics from $29 to $32.

Medivation (NASDAQ:MDVN) Next Catalyst Should be Positive Says Global Hunter

A lot of uncertainty surrounds Medivation (NASDAQ:MDVN) and results from top-line Phase III Huntington (Horizon). Global Hunter believes there's a 60 percent chance there will be a positive outcome, which will be a significant catalyst for the company.

Global Hunter said, "We are updating our Discounted Cash Flow (DCF) model to include free cash flow estimates through 2016. These changes raise our fair value estimate to $19. We view the next significant catalyst for the stock as potentially positive top-line Phase III Huntington’s (HORIZON) data release in H1:11 and as early as Q1:11. Based on powering of the study alone, we believe the probability of a positive outcome is 60%. We believe the Street, however, is not placing any value on this program as dimebon failed in a Phase III Alzheimer's study. In addition, an inflection point in the stock could occur in Q4:11 with release of the Phase III MDV3100 (AFFIRM) data. We continue to view the Alzheimer’s program as a call option and MDV3100 as downside support. At current levels, we believe MDVN has a compelling risk/reward profile and we recommend owning shares ahead of the 2011 catalysts."

Global Hunter Securities maintains a "Buy" rating on Medivation, which closed Tuesday at $16.34, up $0.25, or 1.55 percent. Global raised their price target on them from $16 to $19.

Triangle Petroleum (AMEX:TPLM) Moving from Acquisition Stage to Operational Stage

Triangle Petroleum (AMEX:TPLM) almost had a complete makeover in 2010, prompting Global Hunter Securities to say they're poised to move from an acquisition stage to an operational stage.

Global said, "Triangle Petroleum exits 2010 an entirely different company than when it entered the year. With a new management, new capital structure and a new business plan focused on what has become the hottest oil play in the U.S. (Bakken Shale), Triangle is poised to grab investor attention as it moves from acreage acquirer to operator in 2011."

Global Hunter Securities initiated coverage on Triangle Petroleum with a "Buy" rating. Triangle closed Friday at $6.50, up $0.09, or 1.40 percent. Global has a price target of $8.50 on them.

Voyager Oil & Gas (OTC:VYOG) Investors Should Wait for Growth Capital to be Identified

Voyager Oil & Gas (OTC:VYOG) has a solid asset base in the Bakken Shale, saying Global Hunter Securities, but investors should wait until the source of capital to fund the growth is identified.

Global said, "With a solid asset base in the Bakken Shale and seasoned operators converging on their acreage, Voyager is entering the early innings of the cash conversion cycle. While we like the growth plan the company has laid out, we believe investors would be served best on the sidelines until the source of capital to fund this growth has been identified."

Global Hunter Securities initiated coverage on Voyager Oil & Gas with a "Neutral" rating. Voyager closed Friday at $5.40, gaining $0.25, or 4.85 percent. Global has a price target of $5.25 on them.

Northern Oil and Gas (NYSE:NOG) Shares Close to Full Value

with record rid activity, investors have been increasingly interested in the non-operator model of Northern Oil and Gas (NYSE:NOG), although Global Hunter Securities sees them approaching full value in the short term.

Global said, "NOG was an early-mover in the oily North Dakota Bakken Shale securing over 130,000 net acres. With an enviable amount of dry powder on the books, we expect this land-savvy management team to continue making acreage acquisitions in core areas; however, the days of paying sub $1,000 per acre could be over. The company’s non-operator model is working due to record rig activity that should continue into 2011. Investors have taken notice, propelling shares to an all-time high. We believe the stock is near full value in the short-term and would look for a better entry point."

Global Hunter Securities started coverage on Northern Oil and Gas with a "Neutral" rating. Northern closed Friday at $27.21, down $0.48, or 1.73 percent. Global has a price target of $30 on them.

National-Oilwell Varco (NYSE:NOV) EPS Estimates, PT Raised on Rig Orders

National-Oilwell Varco (NYSE:NOV) had its price target and EPS estimates raised by Global Hunter Securities on increased rig orders.

Global noted, "We are increasing our price target to $90 and our 2011 and 2012 EPS estimates to $4.47 and $5.20, respectively, up from $3.67 and $4.40. There has been a recent influx of offshore rig orders (24 this quarter alone, which does not include options and the four drillships Ocean Rig, a subsidiary of DryShips Inc. (Nasdaq:DRYS), recently announced expectations to construct), and subsequent discussions with offshore drilling contractors suggests more rig orders will be placed.

"We are now forecasting orders of $1.5 billion this quarter, $5.1 billion in 2011 and $4.0 billion in 2012, which compares to our prior estimate of $600 million, $4.1 billion and $3.6 billion, respectively."

Global Hunter Securities maintains a "Buy" rating on National-Oilwell Varco, which was trading at $66.24, down $0.07, or 0.11 percent, as of 12:02 PM EST. Global raised their price target on them from $68 to $90.

Savient Pharmaceuticals (NASDAQ:SVNT) Must Wait for KRYSTEXXA Benefits

Savient Pharmaceuticals (NASDAQ:SVNT) has shipped KRYSTEXXA to specialty distributors starting on December 1, but won't enjoy the benefits of the launch until sometime in the middle of January 2011.

Global Hunter Securities, which maintains a "Buy" rating on Savient, considers the company highly undervalued.

"SVNT announced the wholesale acquisition cost (WAC) of KRYSTEXXA of $2,300/8 mg vial. In addition, the company commenced shipment of drug to specialty distributors. Although KRYSTEXXA will be available by prescription on December 1st, we do not foresee significant KRYSTEXXA sales until the sales representatives are on board in mid-January. We continue to believe KRYSTEXXA could become a best-in-class therapy with its differentiated profile and represent a new treatment paradigm for this unmet need to warrant a $500 million peak potential by 2016," said Global Hunter.

Savient closed Wednesday at $12.08, gaining $0.28, or 2.37 percent. Global raised their price target on them from $15 to $19.