Dawson Geophysical upgraded to "buy"

06/10/05 - A.G. Edwards & Sons

NEW YORK, June 10 (newratings.com) - Analysts at AG Edwards upgrade Dawson Geophysical Company (DWSN) from "hold" to "buy," while reducing their estimates for the company. The price objective is set to $27.

In a research note published this morning, the analysts mention that the company's current risk/reward profile is attractive. Dawson Geophysical is expected to witness robust sequential revenue growth in the near future, driven by the recent addition of four seismic crews, the analysts say. The EPS estimates for 2005 and 2006 have been reduced from $1.57 to $1.55 and from $2.58 to $2.35, respectively.